LineKong to continue investing in start-up game companies
Shanghai. August 6. INTERFAX-CHINA - LineKong Entertainment Technology Co. Ltd., an emerging Chinese game operator, will continue investing in start-up game companies in order to accelerate its expansion and listing plans, according to a company employee on Aug. 5.
"We welcome partnerships with start-up game developers and operators and are seeking suitable game R & D projects to invest in as part of our listing plan. Investing in such companies will accelerate our path towards an initial public offering," LineKong marketing's official, Qu Yi said.
LineKong announced on Aug. 4 that it has invested a total of RMB 15 million ($2.2 million) in Condor Game, a start-up game operator, which focuses on traditional Chinese story-themed online games. As a result of the investment, Condor Games can access LineKong's game operation platform, related technologies and self-developed game products, while LineKong will tap into Condor Games' marketing and sales force and existing user base, according to Qu.
Leading online game operators such as Shanda Interactive Entertainment Ltd. and Giant Interactive Group Inc. have also announced intentions make similar investments in R & D projects due to increasing competition in the sector, according to Zhao Xufeng, an industry analyst with iResearch.