On Monday evening SIG analyst Zhao Chunming downgraded Tencent from positive to neutral over concerns about its valuation in the face of a slowdown in the Chinese online game market. 48% of Tencent’s revenue comes from online gaming, and in the last several weeks Perfect World, Shanda Games, Giant Interactive and Netease have all issued [...]
In today’s Q1 2010 earnings release Perfect World announced today that it has acquired a majority stake in Runic Games, a Seattle-based game development studio. Perfect World, which already has a deal to publish an MMORPG version of Runic’s “Torchlight“, says it paid “consideration of approximately US$8.4 million” for the majority stake. From Perfect World’s [...]
Shanda Games ($GAME) purchased Mochi Media, a flash game distribution and advertising platform, for a reported $80m. It is Shanda’s first move into the US market. Several of the other leading Chinese game firms are already operating in the US or have announced plans to enter the market. Perfect World ($PWRD) operates English versions of some [...]
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