Vodone has acquired 3GUU, one of China's leading mobile game developers for smartphones. Vodone will own 70% of 3GUU shares, becoming the largest mobile game developer and operator in China in terms of flow of income and active paying users.
Vodone will also aim to build itself into the largest mobile game platform in China by obtaining the most complete set of mobile game publishing and business licenses.
Vodone will acquire 3GUU for RMB196 million (US$29.4 million), including RMB58.8 million in cash and RMB137.2 million in consideration shares.
A mobile game marker leader based in Guangzhou, Guangdong province, 3GUU is the first mobile game developer to obtain an Internet Publication Permit from China's General Administration of Press and Publication.
PR-Canada.net reports 3GUU has a close business relationship with China Mobile.