TOM Online of China acquires India mobile gaming company Indiagames.
Economic Times (New Delhi, India), December, 2004
Byline: Sanjeev Sharma
Dec. 19--NEW DELHI, India -- In one of the rare acquisitions by Chinese companies, a leading mobile gaming company, Indiagames has been bought over by TOM Online in a $18 million deal.
Wireless gaming is a hot domain in the international arena and there have been 2-3 buyouts in the European market in the last couple of months. Two of the main private equity investors in Indiagames, ILFS and Infinity Capital, have sold out while some of the promoters stake will remain in the company. Ernst & Young was the advisor to Indiagames in the transaction.
TOM Online is a NASDAQ listed gaming company and its interesting that it zeroed in on an Indian company since gaming is not a domain which India is very famous for. Indiagames...
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