Top Story

e4m_logo.png

Home >> Digital >> Article

Chinese co to buy 80% stake in Indiagames

18-December-2004
Font Size   16
Share
Chinese co to buy 80% stake in Indiagames

Chinese new media company Tom Online Inc said on Friday it would buy an 80.6 per cent stake in Indiagames Ltd for US$17.73 million in cash, in a bid to boost its wireless gaming presence in India and China.

Indiagames is India's largest wireless game maker, with more than 160 employees, Tom Online said.

"Tom Online believes Indiagames will help catapult its integrated Internet products and services onto the world stage with access to truly global partners and distribution channels... further enhancing its business growth both inside and outside China," it said in a statement.

Tom Online's foray into wireless gaming comes as it and its peers diversify from their traditional specialty -- short messaging services (SMS) for mobile phones -- following a recent crackdown by Beijing on the medium to reduce controversial content such as spam and pornography.

Shares in Tom Online closed up 0.69 per cent at HK$1.45 on Friday. The stock has risen 25 per cent in the last three months.

Tags

Bhasin on the checks and balances of new IRS, methodology with new companies like Vedsur on board, interpreting the data and why it’s not fair to compare with previous data

Chitresh Sinha, CEO, Chlorophyll Innovation Lab and Vivek Singh, Joint MD, Procam International speak exclusively with exchange4media on the upcoming #BeBetter Campaign for the TATA Mumbai Marathon

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

Duroflex and Happy mcgarrybowen launch #7HourMarathon campaign with Milind Soman to promote healthy sleeping practices

Punjab has witnessed highest growth, of more than 50% DTH penetration, followed by HP and J&K

IRS 2017 has been reinforced with design, methodology, quality, and questionnaire enhancements to ensure the highest integrity of the data.