iRENA raises RMB300 million

iRENA, one of the leading sports and culture companies in China, announced today (January 11) an RMB300m investment from Chinese mobile game provider OURPALM.

The deal sees OURPALM become a stake holder in iRENA which last November was listed on China’s New Third Board, a Chinese national share transfer system for small and medium-sized enterprises.

Some analysts suggest the two sides will look at sport-themed mobile games under the new partnership.

Gao Hong, CEO at iRENA, said the company has been working closely with sports event organizers and clubs and they look forward to monetizing from these resources in the near future. “Games and advertisements are the best ways to monetize in the age of Internet Plus.”

RENA is a Beijing-based sports company covering sport events organization, sports venue operation and other services. The company is also the official Arsenal School Partner in China.

Ourpalm is a leading Beijing-based web and mobile game developer, publisher and operator.

Source: China Securities Journal