VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
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
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023 12:27
Related coverage
Wanglaoji: embracing young customers through sports marketing
25 Sep 2017
SoccerManager partners with Fengkuang.com
20 Jul 2017
15 May 2015
Weibo named KPL official social media partner
20 Mar 2018
Wenzhou to establish an international eSports center
30 Mar 2018
More from Yutang Sports
SportAccord’s conversation with FEI President Ingmar De Vos: Equestrian sport’s road to Versailles
22 Apr 2024
WFDF is ready to fly in Chengdu for the World Games 2025
17 Apr 2024
SportAccord calls for the power of sport to lead anti-abuse actions
17 Apr 2024
SportAccord 2024 - combating online abuse ‘chance for sport to show its power’
22 Mar 2024
Reasons why Leading Gold Partner Sport Event Denmark returns to SportAccord every year
08 Feb 2024
Yutang Sports
loading...