SHANGHAI, China-Shanda Interactive Entertainment Ltd. agreed to buy the remaining interest it did not already own in Beijing Digital-Red Mobile Software Co. Ltd., a mobile games developer. Shanda first purchased a minority stake in Digital-Red in January.
Digital-Red said it has developed more than 200 game applications, including pre-loaded games for mainstream mobile-phone manufacturers, as well as K-Java games for China Mobile’s game-download portal. Its pre-loaded games are deployed by Nokia, Motorola, Sharp and Sony Ericsson among other device makers.
Pursuant to the terms of the agreement, an initial installment will be paid in cash, with the remaining consideration to be paid in cash in 2006 based on the actual earnings performance of Digital-Red in 2005.
