Perfect World announced that it will set aside US$100 million in cash to buy 30.3 million shares in Shanda Games. The latter is known for publishing games such as MapleStory and Ragnarok Online in China. Perfect World said that the agreement will go through in a month’s time.
Furthermore, the company will join a consortium of corporations looking to take over ownership of Shanda Games and make it private. The consortium previously offered to buy Shanda Games’ share at US$3.45 apiece for either class A or class B type shares back in January of this year. The companies involved include Shanda Interactive Entertainment (Shanda Games’ current shareholder) and Primavera Capital. This puts Shanda Games’ total value at US$1.9 billion. The company has yet to respond to the share price offer.
Perfect World isn’t making its investments and future plans secret. Its launch of DOTA 2 propelled its revenue to lofty heights, while the firm stated publicly that it will expand its publishing office with future partnerships and company investments.