Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
May 6, 2016
arrowPress Releases
May 6, 2016
PR Newswire
View All

If you enjoy reading this site, you might also want to check out these UBM Tech sites:

One of China's biggest online game companies goes private in $3B deal
One of China's biggest online game companies goes private in $3B deal
July 21, 2014 | By Kris Graft

Giant Interactive, a major Shanghai, China-based online game operator, has completed a deal to go private thatís worth $3 billion.

The company is behind games including the ZT Online series and World of Xianxia, which help place Giant as one of the leading online game companies in China, in terms of market share.

Giant generates revenue through the sale of virtual items in its online games. Game companies large and small see significant potential in China's emerging economy.

Giant Interactive went private by merging with the entity Giant Merger Limited, which is wholly-owned by Giant Interactive. Shareholders, who received $12 per share, approved the deal on July 14.

The company had been listed on the New York Stock Exchange under the ticker ďGA,Ē and was delisted Friday on Giantís request, following completion of the deal.

Public companies sometimes go private in a bid to bring greater management focus to growing the company, as opposed to concentrating on government regulations.

In its most recent financial quarter, ended March 31 this year, Giant reported net revenues of $92.5 million, flat year-over-year. Profits were $194 million for the quarter, up 270 percent.

Related Jobs

Meridian Technologies
Meridian Technologies — Warren, New Jersey, United States

OpenCV Developer
Bethesda Softworks
Bethesda Softworks — Rockville, Maryland, United States

Digital Sales Account Manager
Psyonix — San Diego, California, United States

UI Artist for Rocket League
Lionbridge Technologies
Lionbridge Technologies — Redmond, Washington, United States

Software Test Lead-GES15120

Loading Comments

loader image