China’s Shanda Buys Korean Developer, Links up with CNTV

September 9, 2010 -

Chinese online game operator and developer Shanda Games is apparently enjoying the fruits of operating in a near recession proof industry, as it has snatched up a Korean developer and entered into an alliance with China Network Television (CNTV).

Shanda announced its intention to gobble up Eyedentity Games for around $95 million U.S. Eyedentity was described as “a private developer of online games with over 100 game developers.” Its latest game, Dragon’s Nest, was released around the world and  billed as being “one of the most successful new online games in China this year.”

Shanda said that the deal would strengthen its international presence.

As far as linking up with China Network Television for a joint venture, Shanda hopes that the strategic partnership could lead to the establishment of an online videogame channel, in addition to leveraging the “superior capabilities” of the two companies, including facets such as an “integrated media platform, multiple marketing channels and technology and game operating expertise.”

Update: Not that recession proof of an industry apparently, as Shanda saw this year’s second quarter net profit plummet around 60 percent from the same period one year earlier.


 
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