Shanghai-based video game business Giant Network revealed the other day that on October 15, it signed a Letter of Intent for Investment with Dongzheng Ruibo (Shanghai) Investment Center, all set to obtain 72.81%of Taomee Entertainment straight or indirectly held by Dongzheng Ruibo or its associated business in money.
After initial conversations, the 2 celebrations accepted worth Taomee Entertainment at 1.5 billion yuan ($233 million), yet the deal rate will be figured out by more settlements after due diligence.
Taomee Entertainment is a house entertainment business, and its primary company covers online video games, movie and tv animation and brand name licensing.
Taomee has actually established and run lots of video game items, such as the Mole’s World mobile video game, which is individually established by Taomee and run by Leiting Games, along with the web and mobile video game of Space Energy Robots (SEER) and Flower Fairy, which are both individually established and run by Taomee.
The self-developed Mole’s World mobile video game released in June this year carried out well, and ranks amongst the leading 3 very popular iOS video games in China after its release. Since September 30, the cumulative variety of signed up users went beyond 30 million.
The primary client group of Taomee’s items is minors. Its leading item Mole’s World is a virtual interactive neighborhood developed for kids aged 6-14 in China, and SEER is a round-based competitive advancement video game created for minors.
Recently, China’s National Press and Publication Administration (NPPA) released a file to assist efficiently avoid minors from over-indulging in online video games. All Taomee video games have actually been linked to NPPA’s unified real-name authentication and anti-addiction system, while small gamers and gamers without total real-name info go through the constraints for securing minors.
Besides, minors are limited in usage. Taomee web reveals that for Mole’s World, gamers under the age of 8 can not charge and pay, those aged in between 8 to 16 years of ages can not invest more than 50 yuan each time, and no greater than 200 yuan monthly; those aged in between 16 to 18 years of ages are prohibited to invest more than 100 yuan each time and 400 yuan each month.