Tencent Buys Out Shenzhen Domain Networks
Tencent (0700.HK) has signed an agreement to take over the remaining 40% stake in online game company Shenzhen Domain Networks (SDN), Tencent announced April 19. Tencent will pay up to RMB 162.50 million for the deal, including company options and RMB 154.20 million in cash, according to the announcement.
Tencent acquired 19.9% stake in SDN for RMB 29.9 million in 2005, and then spent an additional RMB 106.3 million over the next few years to increase its holdings to 60%, said the announcement.
SDN is the developer of 2D MMORPG QQ Huaxia and plans to start alpha testing of its in-house developed 2D MMORPG Huaxia Qianzhuan on May 5, a posting on the game’s official site said April 16.
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