Chinese Aluminum Firm Spends USD583 Million to Diversify Into Online Gaming
Yicai Global
/SOURCE : Yicai
Chinese Aluminum Firm Spends USD583 Million to Diversify Into Online Gaming

(Yicai Global) July 12 -- Ningbo Fubang Jingye Group Co. [SHA:600768], an aluminum fabrication enterprise, is to diversify into online gaming with the 100 percent acquisition of Chengdu Crimoon Interactive Digital Entertainment Co. and Chengdu Skymoon Interactive Technology Co. for CNY3.9 billion (USD583 million).

The two gaming companies have proprietary intellectual property rights that last year brought in an unaudited net profit of CNY191.3 million (USD28.6 million). The firms have committed to making a net profit for the new parent company of no less than CNY300 million, CNY360 million and CNY432 million over the next three years.

The management teams of both Crimoon and Skymoon will continue to run the mobile game businesses.

Follow Yicai Global on