More dealmaking in China’s gaming space: Chinese mobile entertainment company Linktone (NSDQ: LTON) is taking a 50.01 percent stake in Chinese games developer Letang for $9.15 million in cash, to beef up its mobile gaming business.
Linktone’s distribution model is largely based around agreements with China’s two biggest mobile operators, China Mobile and China Unicom. On the content side, it has deals with a range of international companies, from Sony (NYSE: SNE) Music and Turner Broadcasting/Cartoon Network to China.org.cn, the official Chinese government news portal. It says that Mobile Pet (pictured), a game it launched in 2001, remains one of its most popular services, generating hundreds of thousands of messages per day.
Letang makes games for various platforms and operating systems including Flash, Symbian, KJava, MTK, Android, BlackBerry and iPhone.
Release (via Yahoo)