China's Lead Eastern Investment Group on Tuesday announced the acquisition of 10% stake in Reliance Games' Zapak Mobile Games for $15 million.
China’s Lead Eastern Investment Group on Tuesday announced the acquisition of 10% stake in Reliance Games’ Zapak Mobile Games for $15 million.
Besides, Reliance Games, Lead Eastern and Creative Cultural will form a three-way joint venture in China to develop and market mobile games, with 40%, 51% and 9% stakes, respectively.
Reliance Group managing director Amitabh Jhunjhunwala said the partnership with Lead Group will accelerate
the growth and reach of the group’s gaming business in the China marketplace and also help in its expansion in global markets.
“This partnership will enable both companies to leverage their core competencies,” he said in a statement.
Lead Eastern Company’s chairman Chunfeng Wang said: “The strategic partnership between Lead Eastern and Reliance Games will enable the two companies to expand extensively in China as well as global markets.”