Shanda Acquires Casual Games Firm Gametea

Shanda, one of the biggest online gaming firms in China, has bought out Gametea, an online casual games platform that develops and operates chess and board games in China.

An upfront cash amount was paid for now, with the remaining amount to be paid in two installments in 2006 and 2007. Founded in 1998, Gametea has 11.5 million registered users from 28 cities throughout China and offers more than 90 online casual games, including poker games, board games, mahjong and other contest games. Gametea generates revenue through the sales of virtual in-game items and advertisements on the game platform.

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