Chinese gaming giant Ourgame Holdings Ltd announced plans to acquire three mainland China-based mobile gaming product companies. Ourgame’s wholly owned subsidiary Tianjin Shengyou Shidai entered into a share transfer agreement with Shenzhen Xunyou Internet Technology Company to purchase 100 percent of the equity interest in the company for $23.3 million; with Nanjing Haoyun Meicheng Electronics Technology Company for $34.1 million; and with Xiamen Yiwantang Internet Technology Company Ltd for $8.5 million.
An Ourgame spokesperson said, “Part of the group’s strategy is to actively seek investment opportunities that would bring strategic resources to expand the group’s portfolio and user base. The board believes that the acquisition presents an excellent opportunity for the group to complement and enlarge its China national games platforms. The company believes that the acquisition will further consolidate the group’s leading position in its domestic China card and board games business and enhance its brand influence.”
Shenzhen Xunyou Internet Technology Company develops and operates mobile games focusing on mahjong, poker and other card and board game products in Yongzhou, Hengyang, Shaoyang and other cities in Hunan province. Nanjing Haoyun Meicheng Electronics Technology Company operates 20-30 China regional card and board games including mahjong and poker in Jiangsu, Zhejiang, Shanghai, Anhui, Guangdong and Hebei. And Xiamen Yiwantang Internet Technology Company Ltd operates 10 China regional card and board games such as mahjong and other card and board game products in Fujian province.
Previously Ourgame announced it will expand its World Poker Tour brand across Asia with an emphasis on Japan; Ourgame purchased the brand in 2015 for $35 million. The company also plans to develop 10 eSports arenas in China and the U.S. by 2019, including the new Esports Arena Las Vegas at Luxor Hotel and Casino.
