PacificNet (PACT.PK) has entered into an agreement with mobile Internet portal MOABC.com to purchase a 20% ownership equity interest.
MOABC.com reportedly has 11 million registered users and features mobile social networking, mobile games, and entertainment. This free WAP portal provides a variety of mobile internet services such as news, mobile gaming and entertainment services, mobile blogs, mobile email (Mo- Mail), Avatar and virtual pets, mobile online dating, mobile instant messaging, and virtual communities.
PacificNet says the purchase will help strengthen its wireless Internet, mobile games, and mobile e-commerce unit.
As a mobile game portal, MOABC recently entered into a profit-sharing cooperation agreement with Netease.com on a newly launched mobile game titled "The World", a Mobile Massive Multi-user Online Role Playing Game, or Mobile MMORPG Game.