Chinese wireless service provider KongZhong Corporation announced that it will acquire the Xiamen-based mobile games developer Simlife International, Inc. for a total of $3 million.
KongZhong completed talks with Simlife over the past week. Following the completion of the agreement, Simlife will become a subsidiary of KongZhong.
As part of KongZhong's terms, Simlife shareholders may receive an additional $1.25 million and $6 million in KongZhang shares, pending Simlife's ability to match expected performance standards over the next year.
Simlife has published more than 200 games for J2me-compatible mobile devices since its founding in 2002, including the RPG Sorcerer, puzzler Xiamen Mahjong, and action title Justice Command.
By
Danny Cowan
2009-06-23 16:00:00