Tencent Holdings announced that it has entered into a strategic partnership with Shanda Games, a leading online game company in China. Tencent will invest approximately RMB3 billion or $474M in Shanda Games to further deepen the cooperation between the two companies.

Shanda Games is one of the most widely recognized online game companies in China while Tencent is a leading Internet value-added services provider serving the largest online community in China. The strategic investment by Tencent will advance the growth of Shanda Games.

Shanda Games is committed to the development of top-notched game IP and possess operational expertise in the online games market. Tencent is strongly competitive in user coverage, game publishing, platform strength and data analytic. The partnership will combine strengths from both sides and is expected to create synergies in various areas such as game development, publishing and operation. The two companies will cooperate to promote the healthy and long-term development of the industry.

Shanda Games expected that the company’s development will enter into a new milestone following its successful business transformation and financing. Going forward, Shanda Games will build its new cultural ecosystem through strategic partnership, investment, resources sharing and IP operation. Tencent’s investment will further strengthen Shanda Games’ competitive strength in its core business and the establishment of its new cultural ecosystem, enabling Shanda Games to achieve its goal in becoming a leading enterprise in the new cultural industry.

Tencent uses technology to enrich the lives of Internet users. Our social products Weixin and QQ link our users to a rich digital content catalogue including games, video, music and books. Our proprietary targeting technology helps advertisers reach out to hundreds of millions of consumers in China. Our infrastructure services including payment, security, cloud and artificial intelligence create differentiated offerings and support our partners’ business growth. Tencent invests heavily in people and innovation, enabling us to evolve with the Internet. Tencent was founded in Shenzhen, China, in 1998. Shares of Tencent (00700.hk) are traded on the Main Board of the Stock Exchange of Hong Kong.

Check out the profile on: Shanda Games and Tencent Holdings