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The deal is another sign of the times: cash and stock-rich Chinese online game companies are flexing their muscles on the world stage of the video game market. Beijing-based Perfect World operates a number of its own massively multiplayer online games. The deal is subject to closing conditions.
Michael Chi, chairman and chief executive of Perfect World, said the strategic acquisition will add attractive game titles to the company’s portfolio and help further penetrate into the U.S. and global online game markets. He said he had a lot of respect for the development team and technology platform that Los Gatos, Calif.-based Cryptic has developed over the years.
We’ll be exploring the most disruptive game technologies and business models at our third annual GamesBeat 2011 conference, on July 12-13 at the Palace Hotel in San Francisco. It will focus on the disruptive trends in the mobile games market. GamesBeat is co-located with our MobileBeat 2011 conference this year. To register, click on this link. Sponsors can message us at firstname.lastname@example.org. To participate in our Who’s Got Game? contest for the best game startup, click on this link.
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