Chinese investors buy King of Fighters publisher SNK Playmore

SNK Playmore, Capcom's longtime fighting game rival and home to franchises like Fatal Fury and The King of Fighters has been acquired by Chinese investors.

The news has been confirmed in an extremely brief news story from Reuters, with a much more informative take on the move available at SNK fansite Dream Cancel.

A company called Ledo Millennium will pay $63.5 million to acquire 81.25 of the company from former SNK CEO Eikichi Kawasaki and wife Natsuyo Kawasaki, Dream Cancel reports. After that transaction, a company called Dongfang Xinghui will own 80 percent of the SNKP shares. Its CEO, Zheng Jianhui, reportedly said that the company's stable of IP is what made it an attractive target.

The company, heir to the arcade giant SNK (which manufactured the classic Neo-Geo console and arcade system, and which was founded in 1978) had of late produced fewer games; the most recent King of Fighters game, The King of Fighters XIII, hit arcades in 2010 and consoles in 2011 -- though a new title is reportedly in development. The company had recently made efforts to turn its franchises into mobile games bring its classic titles, such as the Metal Slug franchise, to Steam and game consoles.