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China's TOM Online Pays $17 Million for Stake in Mobile Firm Indiagames

Authored by Mark Hefflinger on December 17, 2004 - 9:00am.
Hong Kong -- Chinese wireless Internet provider TOM Online announced on Friday that it has acquired an 81% stake in mobile game developer Indiagames for $17.7 million. The company purchased shares from Infinity Ventures, IL&FS Investment Managers, and Indiagames' management team -- which will remain intact and retain the remaining 19% stake in the company. Founded in 1999, India-based Indiagames has developed mobile games based on Hollywood properties including "Spider-Man," "Predator," "Buffy the Vampire Slayer," "Jurassic Park" and "The Mummy." The company distributes its games through over 100 mobile operators globally. TOM Online said the deal will establish its presence in the mobile games markets in India and China.
http://biz.yahoo.com/prnews/041217/hkf001_1.html 
http://www.tom.com 
http://www.indiagames.com 

tags: Mobile | China | Stake | Indiagames | TOM Online |

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