Shanda Games' Actozsoft Invests KRW 10 Bln in Kakao Games
Sina Tech, 4/02/18
Chinese online game developer and operator Shanda Games announced today that its South Korean subsidiary Actozsoft has invested KRW 10 bln (roughly RMB 59.13 mln) in Kakao Games, the independent gaming unit of Korean messaging giant Kakao.
With this investment, Shanda Games and Actozsoft will enter into a deep strategic partnership with Kakao. Diandian Interactive Holding, a subsidiary of Century Huatong Group (002602.SZ), which, in turn, is the indirect controller of Shanda Games, also made a KRW 10 bln investment in Kakao Games, for a combined KRW 20 bln between the two companies.
Kakao Games' platform currently has over 550 mln users and its business covers mobile and PC gaming, with plans to expand into areas such as VR and AR in the future.
In February, Chinese internet conglomerate Tencent (0700.HK) invested KRW 140 bln in Kakao Games, becoming its second-largest shareholder.
Editor's Note: For more information on this topic, please see Tencent Joins USD 130 Mln pre-IPO Funding of Korea's Kakao Games, MD 2/15/18 issue.
Keywords: mobile gaming wireless overseas Shanda Games Internet funding Century Huatong 002602.SZ Diandian Interactive Kakao Games online gaming South Korea
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