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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.


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Comments


Michael Joseph
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The virtual goods business sounds like a great way to launder money. I think ever since I watched Breaking Bad I see money laundering fronts at every dingy little store along the highway that never seems to have any customers yet manages to stay in business.

Due to it's very nature it's hard to know how much money is being laundered in the world but the United Nations has estimated ~3.6% of global GDP is criminal proceeds with 2.7% being laundered which puts the figure around ~1.9 Trillion US dollars being laundered.

Nooh Ha
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"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."

So its profits were over twice its revenues?


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