Shanghai-based Moli Group Joins With the Commanding U.S. Global Mobile Game Developer Oberon Media for Games and Content Distribution in China
By Celestial Asia Securities Holdings Limited, PRNESaturday, February 12, 2011
Includes Moli's database of 40 million online games subscribers and for the lucrative mobile internet market segment
HONG KONG, February 13, 2011 - The CASH Group* [1049:HK], a services developer of internet and mobile
services in China, today announces a tie-up between its six-year-old Moli
Group (meaning magical power) platform, based out of Shanghai, with Oberon
Media, based out of New York City, United States.
The tie-up takes the form of establishing a joint venture. In summary,
the Moli Group acquires from Oberon Media, an 89.7% stake in Oberon
Information, with existing games and content distribution in China. Oberon
Media retains the rest of the 10.3%. The transaction size is around
US$10,000,000 and through a series of transactions will see Oberon Media
become a shareholder of around 1% of the CASH Group in exchange for its 89.7%
stake in Oberon Information.
The aim of the tie-up is to establish a world-class platform for games
and content distribution in China. The target segments include Moli's
database of 40 million online games subscribers (over its award-winning
games) and the lucrative mobile internet market segment which runs into the
hundreds of millions of users.
Mr. Bankee Pak-hoo Kwan, Chairman and CEO of CASH Group, said, "… We
are very excited over the tie-up with Oberon Media, one of the largest global
mobile game developers. Oberon is an indisputable global leader in games and
related contents with world-class research and development and game
distribution capabilities across various platforms. We have our own database
of online subscribers and distribution channels in China as well as
government and local networks. We believe that the tie-up is only the
beginning of an unfolding story, which will see significant penetration into
the lucrative mobile internet market. It also accords with our vision to lead
and not follow the competition."
Mr. Amir Gal-or, Managing Partner of Infinity I-China, which is an
investing fund in Oberon China, said, "This acquisition of Oberon Media, by
global games leader Moli validates the underlying reality that strong Chinese
companies are starting to build strength locally by acquiring global and
western technology and know-how."
Mr. Tal Kerret, Chairman of Oberon Media, said, "Oberon Media has
invested years in developing its China strategy, and I personally visited
China repeatedly over this process. We learned that the best opportunity to
succeed in China is with a local industry partner as part of a larger group
and we found that Moli, with the leadership of Mr. Kwan at CASH, was a
perfect match."
About CASH Group
The CASH Group is a services developer. It currently focuses on
developing internet and mobile related services in China. Accordingly, the
CASH Group also focuses on expanding its Moli Group based out of Shanghai for
online games as well as other internet and mobile activities, as the
opportunities arise. In relation to the Moli Group, the Group has spent the
last six years on developing the Moli Group into an online games platform in
China. The Moli Group now has approximately 300 dedicated employees and a
number of award winning online games with a database of some 40 million
subscribers. For more details, please visit www.cash.com.hk.
Oberon Media/Oberon Information
Oberon Media is a member of the Oberon Media Group, one of the largest
global mobile game developers, which has set an industry standard on games
and related contents with its game solutions being adopted by some of the
world's innovative corporations including Microsoft, AT&T, Electronic Arts,
Orange France and Yahoo!. Oberon Media Group's platform combines casual and
social game content, merchandizing and features to fulfill each partner's
specific needs (corp.oberon-media.com/about.asp). Oberon Media, as a
member of the Oberon Media Group, was itself founded in 2003 and
headquartered in New York City. It focuses on development, publishing and
distribution of casual games across multiple platforms, with offices in North
America, Europe and Asia. According to Oberon Media, it is backed by Goldman
Sachs, Morgan Stanley and Oak Investment Partners and has 480 employees, over
100 strong distribution partners, 350 studio partnerships around the world
with a catalogue of over 1,200 games. 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
licensed distributor. It also provides research and development of hardware
and software technology systems and services related to technical transfers,
consultation and support, as well as other relevant services.
For enquiry, please contact: Ms. Magdalene Tsang Tel: +852-2287-8088 e-mail: magdalene.tsang@cash.com.hk Ms. Chloe Chu Tel: +852-2287-8317 e-mail: chloe.chu@cash.com.hk Ms. Kacey Cheung Tel: +852-2287-8324 e-mail: kacey.cheung@cash.com.hk
*Celestial Asia Securities Holdings Limited and its subsidiaries
Please note: The above information contains forward-looking statements
that involve risks and uncertainties and are based on information of the
parties in good faith believes to be reliable as of the date thereof. The
actual results may differ. Please exercise care and caution and read the
information with the public announcements and circulars which the information
is subject to. All figures are approximation.
Ms. Magdalene Tsang, +852-2287-8088, magdalene.tsang at cash.com.hk, or Ms. Chloe Chu, +852-2287-8317, chloe.chu at cash.com.hk, or Ms. Kacey Cheung, +852-2287-8324, kacey.cheung at cash.com.hk
Tags: Asia, Celestial Asia Securities Holdings Limited, February 13, Hong Kong