BEIJING-KongZhong Corp. will acquire Chinese mobile game publisher Tianjin Mammoth Technology Company, the companies said Friday.
Terms of the deal, which is expected to close in June, were not disclosed.
Three-year-old Mammoth boasts a portfolio of nearly 100 games across platforms, marketing titles in China and Europe. KongZhong provides 2.5-generation interactive entertainment and community services.
“We believe the acquisition will help us strengthen our mobile game development capabilities significantly,” said Yunfan Zhou, chairman and chief executive officer of KongZhong. “The acquisition will also provide us with a stepping stone into the global mobile game market.”
Shares of KongZhong were down 10 cents, to $7.28, in late-morning trading on the Nasdaq Friday following the announcement.
