iGaming Business – Chinese online gaming developer and operator Perfect World is to invest in Wuhu Huitian Shengshi Network Technology and Beijing Shouyou Daqu Technology, the respective operators of the TGBus.com and PTBus.com Chinese online gaming portals.
The firm is to acquire a 100% equity interest in Wuhu Huitian for approximately RMB255 million (€31.2 million/$41.8 million) in addition to an undisclosed minority stake in Daqu for around RMB40 million.
The completion of both deals is subject to the satisfaction of customary closing conditions.
“As two of the most popular gaming portals among Chinese players, TGBus and PTBus have accumulated valuable knowledge about the industry and rich experiences with gamers,” Perfect World’s chief executive officer, Robert Xiao, said.
“We believe these strategic investments would create synergies and provide better support for our gaming business, and help us capture new growth opportunities in the broad spectrum of the future gaming industry.”
