BEIJING, Aug. 2, 2012 /PRNewswire-Asia/ -- KongZhong Corporation (NASDAQ: KONG), a leading provider of digital entertainment services for consumers in the PRC, today announced that it has entered into a definitive agreement with Meteor Entertainment, Inc. to bring its game Hawken ( www.playhawken.com) to the mainland China online game market.
As part of this agreement, KONG has granted a warrant to Meteor for the purchase of up to 40 million of the KONG's ordinary shares (equivalent to 1 million of KONG's ADSs), with an exercise price of US$ 0.1985 per ordinary share (or US$ 7.94 per ADS). The warrant is exercisable after the commercial launch of Hawken in the mainland China market and is valid for one year after such commercial launch.
The Company's Chief Financial Officer and Board Member, Jay Chang, said, "We are excited to partner with Meteor to bring Hawken to the China online game market. We believe that Hawken's unique art-style and, more importantly, fast-paced action and strategic gameplay in the form of Mech combat will have broad appeal to Chinese first-person shooter online game players."
Mark Long, Chief Executive Officer of Meteor Entertainment, said, "We believe that Hawken has the potential to be highly successful in China with KONG's help! Like Meteor, they are seeking to disrupt the online game market by delivering new games with higher production values and gameplay than those that are currently in the market."About KongZhong: We are one of the leading providers of digital entertainment services for consumers in the PRC. We operate three main business units, namely WVAS, mobile games and Internet games. We are one of the leading providers of WVAS to mobile phone users and have been in cooperation with all major telecommunications operators in the PRC since 2002. In 2005, we began providing feature-phone mobile games on the networks of China Mobile with the acquisition of Tianjin Mammoth, a mobile games developer. To further expand our mobile games development capabilities, we acquired Noumena in 2012 in order to develop smartphone mobile games on smartphone mobile operating systems, such as iOS and Android. We commenced our Internet games business in 2010 through our acquisition of Dacheng, a developer and operator of Internet games in the PRC. In addition to developing and operating our self-developed Internet games, such as Loong, Demon Code and Kung Fu Hero, we are the exclusive operator of the popular World of Tanks game for the PRC Internet games market. About Hawken: HAWKEN is a free-to-play first person mech combat shooter. Hawken is being created by Adhesive Studios based in Pasadena, CA. The game is being developed to create an intense and enjoyable battle experience that captures the feeling of piloting a heavy war machine while keeping the action fast-paced and strategic. For more information, check out www.playhawken.com About Meteor Entertainment, Inc.:
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