Shanda Literature, the Internet literature subsidiary of China's Shanda Interactive Entertainment Limited, has announced that it has acquired the Chinese digital periodical website Zubunet.com.
According to Shanda Literature, Zubunet.com's resources will be integrated into its Cloudary, which is a cloud library, and will further achieve a seamless access to its electronic reader product Bambook.
With over three million registered users, Zubunet.com is a leading Chinese digital periodical website that is committed to providing the best electronic magazines to users. It has reached deals with Chinese telecom operators in comprehensive mobile publishing, offering services to China's 700 million mobile phone users and 300 million computer users.
So far, Shanda Literature owns seven Chinese literature websites and has reached in-depth cooperation with four publishing planning companies. Its Cloudary currently has the copyrights of over three million literal works, 60 billion Chinese character original contents, over 1,000 kinds of e-magazines, and a daily update of 100 million characters.
Financial terms of the acquisition have not yet been released.