Chinese online game developer and operator The9 announced plans to sign a share financing agreement with South Korean listed company IE Limited.
According to the agreement, The9 will issue 125.5 million new shares with the value of USD15 million to IE Limited. In return, IE Limited will offer 14.55% shares of Smartposting Co. Limited, its Key Opinion Leader marketing company, for exchange.
Smartposting is an online marketing platform founded in 2012. The core business of this platform is Internet celebrity marketing and it provides precision marketing and advertising solutions to customers. The company was acquired by IE Limited in 2016. So far, Smartposting has signed contracts with about 70,000 to 80,000 Internet celebrities and KOLs.
After the share exchange of the two companies, Smartposting will promote business and resource cooperation with The9's advertising company in China. Meanwhile, with Smartposting's influence in South Korea, The9 will promote its various gaming products in this country.