China-based MMO developer and publisher Perfect World Entertainment announced this morning that it has entered into an agreement to purchase more than 30 million shares of Chinese MMO outfit Shanda Games Limited for $100 million in cash.
In addition, Perfect World announced that it has joined a group of companies intending to acquire Shanda and take the company private. This group made a preliminary offer to acquire Shanda in January, with a proposed price of $3.45 per class A or B ordinary share. The proposed agreement would put the total value of Shanda at roughly $1.9 billion. The company has formed a committee to evaluate that offer, but has not taken any other action.
In America, Perfect World is known as the owners of Torchlight developer Runic Games and Champions Online, Star Trek Online, and Neverwinter Online developer Cryptic Studios.