Comments
Chinese firm Lead Eastern Investment Group has acquired a 10 per cent stake in Reliance Games mobile gaming unit Zapak Mobile Games Private Ltd for $15 million (₹98.4 crore).
The two companies said it will create and market mobile games globally.
Besides this, Anil Ambani-owned Reliance Games, Lead Eastern Investment and Hong-Kong-based Creative Cultural Operations Ltd have also agreed to form a joint venture company in China to create, operate and market Mobile Games, based on intellectual property owned and acquired by Zapak. The parties will own 40 per cent, 51 per cent and nine per cent, respectively, in the venture. The transaction is subject to regulatory approvals and due diligence and the partners expect to close the definitive agreements soon.
Lead Holding group is a conglomerate in China, with diversified business interests in real estate, tourism, finance & capital services, media & entertainment, gaming, logistics and so on. Lead Eastern, part of Lead Holding, is a listed entity with interests in film, television, gaming content creation, broadcasting and distribution.
Reliance Games, which is a unit of Reliance Entertainment, has over 200 million downloads across titles such as Real Steel, Pacific Rim, Hunger Games – Catching Fire Panem Run and Dancing with the Stars,
Creative Cultural is in the business of intellectual property based entertainment, including gaming.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.