Shanghai-based online game developer Shanda Games will acquire US online game network Mochi Media for US$80 million, the Wall Street Journal reported. Shanda will pay US$60 million in cash to Mochi Media and give US$20 million worth of shares in Nasdaq-listed Shanda. Shanda chief executive Diana Li said the acquisition will extend Shanda’s reach through Mochi’s global online game distributioin network, and allow the company to move down-market from its current focus on advanced games for serious players to more casual players. She cited projections that the community-based lightweight game market will reach US$15 billion. She also said the move is part of Shanda’s strategy to expand into the US market, and has already prepared 10 titles designed for English speakers. Shanda currently holds 20.8% of the Chinese online game market, close behind market leader Tencent, which holds 23.1%.
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