China Tech Newsletter – Mar. 9, 2016

The mobile version of The Legend of Mir 2, a flagship game title operated by Shanda Games, is generating monthly sales between RMB600 and RMB700 million ($92-$108M) through Tencent’s mobile gaming platform. Daily sales peaked at about RMB46 million (US$7M).

It’s only been a little more than half a year since the title landed on Tencent’s platform.

The PC-based version of The Legend of Mir 2, licensed from Korean game developer WeMade Entertainment in 2001, and a few other titles of The Legend series have contributed the majority of revenues for Shanda Games. (via Sina Tech)

iMegu Capital Management Ltd. offers to acquire all the outstanding shares and ADSs of US-listed online retailer Dangdang in cash.

Gaming company OurPalm announced to acquire a 19% stake in Webzen Inc., a Korean game developer and operator, for RMB1.1 billion (US$91M).

Webzen, founded in 2000, recorded US$199 million in revenue and US$61 million in operating profit in 2015, according to OurPalm.

Huace Media, a film and television company in which Baidu has a stake, announces to invest an additional RMB14.7 million (US$2.3) into LETIN VR, a developer of virtual reality and augmented reality content. Huace Media will hold 7% in LETIN VR up on completion of the deal.


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