CDC Games, a subsidiary of CDC Corporation (CHINA), has completed its strategic investment in South Korea's MGame Corporation, developers of online games including CDC Games' Yulgang.
This is CDC Games' latest investment as part of its previously announced CDC Games Studio, a wholly owned subsidiary of CDC Games supported by up to US$100 million in investment funding.
"We are proud to further strengthen our long-term valued partnership with MGame and look forward to continued successes with Yulgang and the upcoming launch of WFFM," said Peter Yip, CEO of CDC Games. "This strategic investment expands our licensing partnership with MGame into a co-owner of intellectual property and also advances CDC Games in its evolution into a leading global developer of online games."
This investment in MGame is also the latest in a series of steps taken by CDC Games to strengthen CDC's pipeline of jointly owned games to deepen its games portfolio, strengthen its move into games development and expand its distribution channels and geographic reach on a global scale.