Registration open - SportAccord World Sport & Business Summit
18 Dec 2023 17:37
V1 Group Limited will obtain control over Fengkuang.com through the acquisition of Easy Prime Developments Limited.
This deal is believed to be worth as much as HKD630m (USD80.26m), which will be payable by cash, consideration shares and convertible bonds.
Fengkuang.com is a sports company focusing on the development and operation of online and mobile game applications, live streaming platforms, online information platforms and related sports products in Mainland China.
In July 2017, the Beijing-based company signed a 6-year strategic cooperation deal with Soccer Manager, a famous British online soccer management gaming platform. The sports company is also the exclusive official games partner of the Chinese Super League.
“The Group is very confident of the prospect of Fengkuang.com,” As Zhang Lijun, Chairman of the Board of V1 Group said.
“Once the acquisition is successfully completed, V1 Group will apply its tremendous success of operating China mobile game's business to tap the huge sports market of nearly RMB 5 trillion in China, so as to form a strategic business layout with 'digital + new culture and entertainment' as its core businesses.”
Source: wallstreetcn.com
Proofread by William Logsdon
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
Focus Media invests $81m in esports startup
05 Aug 2016
Yutang Weekly: What happened in the Chinese sports market (7/29-8/4)
04 Aug 2019
Shandong to establish a 5-billion-yuan eSports town
11 Dec 2017
Chinese team won international e-sports competition for the first time
19 May 2015
Shanghai's media group Oriental Pearl Group to tackle eSports business
27 Apr 2018
More from Yutang Sports
SportAccord scores Summit touchdown with NFL
18 Jan 2024
HealthAccord spotlights mental health and female athlete well-being
08 Feb 2024
SportAccord Media Partners will ensure global audiences are primed with latest news in sport
02 Mar 2024
IWGA to confirm the World Games host
11 Apr 2024
SportAccord's interview with Sarah Gregorius: proactive actions are necessary to tackle online abuse
28 Apr 2024
Yutang Sports
loading...