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CITIC Pacific Sells Online Games Division

CDC Corporation's (CHINA) subsidiary CDC Games has signed a binding term sheet to acquire OPTIC, the online games publishing division of CITIC Pacific.

With the acquistion, OPTIC will continue to operate its portfolio of existing games under its own brand and will also serve as another platform to launch CDC's pipeline of games in coming months to provide more diversity and choice to gamers in China.

"We are looking forward to joining the CDC Games family upon the completion of this acquisition," said John Huen of OPTIC. "We believe that their global presence, strategic vision and dedicated focus will be of great assistance and support to OPTIC as we continue to grow and expand in our quest to be the one of the top online games companies in China. CDC Games' pipeline of titles would greatly complement our existing portfolio to help us better serve the needs of the increasingly differentiating market segments of gamers in China."

Neither side has divulged the monetary worth of this deal.

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