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Nov. 12, 2013 /PRNewswire/ -- Perfect World Co., Ltd. (NASDAQ: PWRD) ("Perfect World" or the "Company"), a leading online game developer and operator based in
China, today announced that it has entered into definitive agreements to acquire 100% equity interest in Wuhu Huitian Shengshi Network Technology Co., Ltd. ("Wuhu Huitian") for approximately
RMB255 million and a minority equity interest in Beijing Shouyou Daqu Technology Co., Ltd. ("Daqu") from Beijing Huitian Shengshi Technology Co., Ltd. ("Beijing Huitian") for approximately
RMB40 million. Wuhu Huitian and Daqu run TGBus.com ("TGBus") and PTBus.com ("PTBus"), two leading Chinese gaming portals, respectively. Prior to Perfect World's investments, Wuhu Huitian and Beijing Huitian were ultimately controlled by an individual unrelated to Perfect World. The consummation of the transactions contemplated in these agreements is subject to the satisfaction of customary closing conditions.
"We are very pleased to enter into agreements for these investments," commented Mr.
Robert Xiao, Chief Executive Officer of Perfect World. "As two of the most popular gaming portals among Chinese players, TGBus and PTBus have accumulated valuable knowledge about the industry and rich experiences with gamers. We believe these strategic investments would create synergies and provide better support for our gaming business, and help us capture new growth opportunities in the broad spectrum of the future gaming industry."
About Perfect World Co., Ltd. (http://www.pwrd.com)
Perfect World Co., Ltd. (NASDAQ: PWRD) is a leading online game developer and operator based in China. Perfect World primarily develops online games based on proprietary game engines and game development platforms. Perfect World's strong technology and creative game design capabilities, combined with extensive knowledge and experiences in the online game market, enable it to frequently and promptly introduce popular games designed to cater changing customer preferences and market trends. Perfect World's current portfolio of self-developed online games includes massively multiplayer online role playing games ("MMORPGs"): "Perfect World," "Legend of
Martial Arts," "Perfect World II," "Zhu Xian," "
Chi Bi," "Pocketpet Journey West," "Battle of the Immortals," "Fantasy Zhu Xian," "Forsaken World," "Dragon Excalibur," "Empire of the Immortals," "Return of the Condor Heroes," "Saint Seiya Online," "Swordsman Online" and "Holy King;" an online casual game: "Hot Dance Party;" and a number of web games and mobile games. While a majority of the revenues are generated in
China, Perfect World operates its games in
Japan, Korea and
Southeast Asia through its own subsidiaries. Perfect World's games have also been licensed to leading game operators in a number of countries and regions in
New Zealand, and the
Russian Federation and other Russian speaking territories. Perfect World intends to continue to explore new and innovative business models and is committed to maximizing shareholder value over time.
Safe Harbor Statements
This press release contains forward-looking statements. These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, Perfect World's limited operating history, its ability to develop and operate new games that are commercially successful, the growth of the online game market and the continuing market acceptance of its games and in-game items in
China and elsewhere, its ability to protect intellectual property rights, its ability to respond to competitive pressure, its ability to maintain an effective system of internal control over financial reporting, changes of the regulatory environment in
China, and economic slowdown in
China and/or elsewhere. Further information regarding these and other risks is included in Perfect World's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Perfect World does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact
Perfect World Co., Ltd.
Vivien Wang – Vice President, Capital Market & Corporate Communications
Joanne Deng – Associate Investor Relations Director Tel: +86-10-5780-5700 Fax: +86-10-5780-5713 Email:
Christensen Investor Relations
Patty Bruner Tel: +1-480-614-3036 Fax: +1-480-614-3033 Email:
email@example.comJung Chang Tel: +852-2117-0861 Fax: +852-2117-0869 Email:
SOURCE Perfect World Co., Ltd.