Tencent Acquires Joymax

Chinese IM and gaming provider Tencent is buying out private wireless value-added service provider Joymax in an effort to expand its sales channels.
The transaction will be fulfilled in cash, and the first sum of capital will be offered based on the net assets of Joymax, and later sums on its performance in the next two years. Joymax offers SMS-based wireless value added services primarily through mass media promotion.

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