Chinese online game companies in $100 million buyout deal

Newsbrief: Perfect World, a China-headquartered online game developer and operator, has joined a group of buyers to purchase about $100 million in shares in competing Chinese online game company Shanda Games, a subsidiary of major Chinese online company Shanda Interactive. While it develops and operates games in China, Perfect World is also the owner of U.S.-based developers Cryptic Studios (Champions Online) and Runic Games (Torchlight). Shanda is a major distributor of online games in China, with a portfolio including AION, MapleStory and The World of Legend. The share acquisition is still subject to closing conditions, but is expected to complete in 30 days.