Shanghai, China - South Korean wireless carrier SK Telecom has paid $7.8 million for a 30% stake in Magic Tech Network, a unit of Chinese online game company Magicgrids Networks, Pacific Epoch reported.

Founded in 2006, Shanghai-based Magicgrids operates titles including "Patrix," which recently recorded 150,000 peak concurrent users.

Sina.com additionally reports that SK Telecom plans to sink a total of $30 million into Magic Grids over a three-year period.

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http://www.sktelecom.com