Beijing – Linktone (NASD: LTON), a
provider of mobile entertainment services in China, announced on Wednesday that
it will acquire controlling interest in mobile and online game developer Letang
Game.
Under the terms, Linktone will pay up to $9.15 million for 50.01% of the
equity of Letang.
Letang develops mobile games for Flash, Symbian, KJava, MTK,
Android, BlackBerry and iPhone platforms, and counts 80 employees.
Linktone CEO
Hary Tanoesoedibjo called the "fast-growing" mobile games market
"one of our top strategic priorities."
"With this combination of
Letang’s strong R&D expertise and Linktone’s broad distribution
capabilities, we believe that this acquisition will better position Linktone to
continue our efforts to leverage growth opportunities in both domestic and
overseas markets with the goal of sustainable long-term growth and profitability
to shareholders," said Tanoesoedibjo.
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