Sina Games, 2/24/10
According to industry sources, Shanghai-based online entertainment company Shanda Interactive (Nasdaq: SNDA) has completed its acquisition of online gaming company Ourgame, to be announced in early March.
A rumor had previously circulated throughout the investment community that South Korean gaming firm NHN, which owns a 50% stake in Ourgame, was in talks with a number of companies, including Shanda and Perfect World (Nasdaq: PWRD). Perfect World denied the reports at an industry fair in Dalian this January; Shanda has never responded to the rumors.
Editor's Note: Chinese IT news site DoNews reported that a spokesperson for Ourgame confirmed that Ourgame VP Yang Yong'an stepped down on February 22; Yang will reportedly take up a new position at Shanda next week.
Sohu IT later reported that, in response to the earlier reports, Ourgame CEO Wu Guoliang denied the rumors as false. Another industry source also revealed that Perfect World will take over NHN's stake in Ourgame to become a 50% stakeholder in the company.
For more background on this topic, please see "Rumor: Korean Gaming Firm to Sell 50% Stake in Ourgame" MD 1/15/10 issue.