Quantcast

The9 Limited Announces Sale of Certain Businesses - WCAX.COM Local Vermont News, Weather and Sports-

The9 Limited Announces Sale of Certain Businesses

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE The9 Limited

SHANGHAI, Aug. 29, 2014 /PRNewswire/ -- The9 Limited (NASDAQ: NCTY) ("The9"), an online game developer and operator, announced today that Shanghai The9 Information Technology Co., Ltd., a wholly-owned consolidated variable interest entity of The9, has closed a transaction with Shanghai Zhengwu Investment Center (Limited Partnership) for sale of its wholly-owned subsidiary Shanghai Huopu Cloud Computing Terminal Technology Co., Ltd. ("Huopu Cloud") for a total consideration of RMB200 million in cash. Huopu Cloud holds a web game QiJiGuiLai and has the right to receive a minority portion of royalties generated from operation of the game Firefall® in mainland China upon payment and other conditions. Firefall® is a MMO shooter game developed by Red 5 Studios, Inc., a subsidiary of The9.

The9 has obtained a fair market value appraisal from an independent valuation advisory firm prior to the completion of the transaction. The board of directors of the Company reviewed the transaction and approved it. The9 intends to use the proceeds of the sale for developing and operating its other MMO, web and mobile games.

About The9 Limited

The9 Limited is an online game developer and operator. The9 develops and operates, directly or through its affiliates, its proprietary MMO, web and mobile games including Firefall® and NBA web and mobile games. In 2010, The9 established its wireless business unit to focus on mobile internet business including mobile reading platform KingReader and mobile advertising platform Juzi. In 2013, The9 formed a joint venture with Shanghai ZTE to develop and operate home entertainment set top box business.

For further information, please contact:

Ms. Phyllis Sai
Manager, Investor Relations
The9 Limited
Tel: +86 (21) 5172-9990
Email: IR@corp.the9.com
Website: http://www.corp.the9.com

©2012 PR Newswire. All Rights Reserved.

  • Local NewsMore>>

  • Vermont Health Connect down for repairs

    Vermont Health Connect down for repairs

    Tuesday, September 16 2014 6:52 PM EDT2014-09-16 22:52:02 GMT
    Gov. Peter Shumlin temporarily pulled the plug on the Vermont Health Connect website Tuesday. The governor says it's the best way to fix ongoing problems with the site. But critics say he's just protecting himself during campaign season.
    Gov. Peter Shumlin temporarily pulled the plug on the Vermont Health Connect website Tuesday. The governor says it's the best way to fix ongoing problems with the site. But critics say he's just protecting himself during campaign season.
  • 1 infected with hantavirus in Vermont

    1 infected with hantavirus in Vermont

    Tuesday, September 16 2014 12:58 PM EDT2014-09-16 16:58:55 GMT
    The Vermont Department of Health is warning residents to be cautious when cleaning up rodent-infested areas after someone came down with a potentially deadly virus carried by deer mice.
    The Vermont Department of Health is warning residents to be cautious when cleaning up rodent-infested areas after someone came down with a potentially deadly virus carried by deer mice.
  • Area hospitals track spread of enterovirus-68

    Area hospitals track spread of enterovirus-68

    Tuesday, September 16 2014 6:56 PM EDT2014-09-16 22:56:14 GMT
    Doctors in our region are preparing for a respiratory illness spreading across the country. So far, there are no confirmed cases of enterovirus-68 in Vermont or New Hampshire, but experts say it will likely arrive soon.
    Doctors in our region are preparing for a respiratory illness spreading across the country. So far, there are no confirmed cases of enterovirus-68 in Vermont or New Hampshire, but experts say it will likely arrive soon.
  • Respiratory virus spreads across country

    Respiratory virus spreads across country

    Tuesday, September 16 2014 12:32 PM EDT2014-09-16 16:32:31 GMT
    Rich Hinchliffe with Central Vermont Medical Center joins us to talk about Enterovirus D68.
    Rich Hinchliffe with Central Vermont Medical Center joins us to talk about Enterovirus D68.
  • Vt. man denied bail in murder of daughter's boyfriend

    Vt. man denied bail in murder of daughter's boyfriend

    Tuesday, September 16 2014 11:01 AM EDT2014-09-16 15:01:53 GMT
    A Vermont man accused of killing his daughter's boyfriend and burying his body beneath a manure pile will stay in jail.
    A Vermont man accused of killing his daughter's boyfriend and burying his body beneath a manure pile will stay in jail.
  • Police: Meth lab found in Hartford

    Police: Meth lab found in Hartford

    Tuesday, September 16 2014 7:09 PM EDT2014-09-16 23:09:06 GMT
    Police say they busted a meth lab in Hartford early Monday morning.
    Police say they busted a meth lab in Hartford early Monday morning.
  • Police search for man who stole donations from Williston rest area

    Police search for man who stole donations from Williston rest area

    Tuesday, September 16 2014 6:30 PM EDT2014-09-16 22:30:33 GMT
    Vermont state police need your help catching a crook who stole donations from a rest area.
    Vermont state police need your help catching a crook who stole donations from a rest area.
  • Pot found growing along St. Albans road

    Pot found growing along St. Albans road

    Tuesday, September 16 2014 10:46 AM EDT2014-09-16 14:46:15 GMT
    For the second time in as many weeks, police in St. Albans are trying to figure out who's behind a roadside marijuana grow operation.
    For the second time in as many weeks, police in St. Albans are trying to figure out who's behind a roadside marijuana grow operation.
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WCAX. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.