By PR Newswire | Article Rating: |
|
August 29, 2014 06:01 AM EDT | Reads: |
882 |

SHANGHAI, Aug. 29, 2014 /PRNewswire/ -- The9 Limited (NASDAQ: NCTY) ("The9"), an online game developer and operator, announced today that Shanghai The9 Information Technology Co., Ltd., a wholly-owned consolidated variable interest entity of The9, has closed a transaction with Shanghai Zhengwu Investment Center (Limited Partnership) for sale of its wholly-owned subsidiary Shanghai Huopu Cloud Computing Terminal Technology Co., Ltd. ("Huopu Cloud") for a total consideration of RMB200 million in cash. Huopu Cloud holds a web game QiJiGuiLai and has the right to receive a minority portion of royalties generated from operation of the game Firefall® in mainland China upon payment and other conditions. Firefall® is a MMO shooter game developed by Red 5 Studios, Inc., a subsidiary of The9.
The9 has obtained a fair market value appraisal from an independent valuation advisory firm prior to the completion of the transaction. The board of directors of the Company reviewed the transaction and approved it. The9 intends to use the proceeds of the sale for developing and operating its other MMO, web and mobile games.
About The9 Limited
The9 Limited is an online game developer and operator. The9 develops and operates, directly or through its affiliates, its proprietary MMO, web and mobile games including Firefall® and NBA web and mobile games. In 2010, The9 established its wireless business unit to focus on mobile internet business including mobile reading platform KingReader and mobile advertising platform Juzi. In 2013, The9 formed a joint venture with Shanghai ZTE to develop and operate home entertainment set top box business.
For further information, please contact:
Ms. Phyllis Sai
Manager, Investor Relations
The9 Limited
Tel: +86 (21) 5172-9990
Email: [email protected]
Website: http://www.corp.the9.com
SOURCE The9 Limited
Published August 29, 2014 Reads 882
Copyright © 2014 Ulitzer, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.
More Stories By PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
- My Personal 2010 Predictions
- An Exclusive Interview with Oracle, Cloud Expo 2010 Diamond Sponsor
- Virtualization Expo New York Call for Papers to Expire January 15, 2010
- Cloud Computing Expo 2010 East Will Take Place April 19-21 at Jacob Javits Convention Center in New York City
- Themes & Topics To Be Discussed at Cloud Expo in New York April 19–21, 2010
- 2010 Annual Predictions Bonanza
- Oracle Named Exclusive Diamond Sponsor of Cloud Expo 2010
- Cloud Economics – Amazon, Microsoft, Google Compared
- Infrastructure-as-a-Service Will Mature in 2010: Microsoft's David Chou
- Cloud Computing Instrumental in IT Recovery for 2010