Fuchun Communication to Acquire Gaming Firm Dream Network

Fuchun Communication, 12/03/14

Chinese communication technology firm Fuchun Communication (300299.SZ) has disclosed a plan to enter the video game development and operation industry by acquiring a 100% stake in Shanghai-based Dream Network Technology through a RMB 900 mln transaction. Fuchun will fund the acquisition through the issue of RMB 693 mln in new shares and RMB 207 mln in cash.

Dream Network is a browser game and mobile game developer and operator with approximately 100 mln registered users and 700,000 daily active users.

Fuchun anticipates that Dream Network will generate net profits of no less than RMB 64 mln, RMB 83.7 mln, RMB 113 mln, and RMB 124.3 mln for 2014 and the following three years, respectively.

Keywords: online gaming browser game Internet users Dream Network registered users Fuchun Communication 300299.SZ profit mobile gaming M&A

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