Entertainment

Shanda Games to Receive RMB3 Billion Investment from Tencent Holdings

Shanda Games, a major online game company in China, is entering into a strategic partnership with China's Tencent Holdings Limited, a major provider of internet value-added services. The partnership includes Tencent investment RMB3 billion in Shanda Gamesto

Tencent Holdings Limited ("Tencent", SEHK: 00700), a leading provider of internet value-added services in China, today announced that it has entered into a strategic partnership with Shanda Games, a leading online game company in China. Tencent will invest approximately RMB3 billion in Shanda Gamesto further deepen the cooperation between the two companies.

Shanda Games is one of the most widely recognized online game companies in China while Tencent is a leading Internet value-added services provider serving the largest online community in China. The strategic investment by Tencent will advance the growth of Shanda Games.

Shanda Games is committed to the development of top-notched game IP and possess operational expertise in the online games market. Tencent is strongly competitive in user coverage, game publishing, platform strength and data analytic. The partnership will combine strengths from both sides and is expected to create synergies in various areas such as game development, publishing and operation. The two companies will cooperate to promote the healthy and long-term development of the industry.

Shanda Games expected that the company's development will enter into a new milestone following its successful business transformation and financing. Going forward, Shanda Games will build its new cultural ecosystem through strategic partnership, investment, resources sharing and IP operation. Tencent's investment will further strengthen Shanda Games' competitive strength in its core business and the establishment of its new cultural ecosystem, enabling Shanda Games to achieve its goal in becoming a leading enterprise in the new cultural industry.