Zhongji Buys Major Assets from Gaming Co. FunPlus for Up To $960M
Tuesday, August 19, 2014
<Wall Street Journal by Lizette Chapman> Less than six months after raising a record funding round, mobile and social gaming startup FunPlus Interactive Holdings has split off its most mature games and other assets and sold them to Shanghai-based conglomerate Zhongji Investment Holding Co. Ltd. for up to $960 million, the companies announced Tuesday.
The acquisition of FunPlus subsidiary DianDian Interactive Technology Ltd. includes “Family Farm,” “Family Farm Seaside,” “Happy Acres,” “Royal Story” and an unnamed game still in development, as well as the intellectual property and teams associated with those games.
Roughly 120 employees, or half of the larger company’s total pre-acquisition headcount, will join Zhongji.
