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Moli Group, Oberon Media Form Mobile Gaming JV

PR News Wire, 2/13/11

Chinese internet and mobile services provider Celestial Asia Securities Holdings Limited (CASH Group) (1049.HK) today announced its Shanghai-based online gaming platform, Moli Group, will acquire an 89.7% stake in US-based Oberon Media's mobile gaming subsidiary Oberon Information for approximately USD 10 mln. Oberon Media will retain a 10.3% stake in the joint venture, which will focus on China's online and mobile gaming sectors. Oberon Media will also acquire approximately 1% of CASH Group in exchange for the stake in Oberon Information.

Oberon Media established Oberon Information in June 2009. Oberon Information is principally engaged in development, distribution and marketing of online mobile games in China as a licensed distributor.

Keywords: Moli Group mobile gaming online gaming Internet wireless Oberon Celestial Asia JV M&A

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