Shanda Interactive Entertainment Limited, the operator of online games in China, announced today that it has acquired Hangzhou Bianfeng Software Technology Co., Ltd., or Bianfeng, a developer and operator of chess and board games in China.

An upfront consideration was paid in cash at closing with the remaining consideration to be paid in cash in mid-2005 on an earn-out basis. Bianfeng's http://www.gameabc.com portal provides users with a variety of casual games, including card games, board games, mahjong, and simple arcade games. Currently, Bianfeng offers over 50 different games, which attracted over 200,000 peak concurrent users in July 2004, according to data provided by Bianfeng's management.