CHANGYOU TO ACQUIRE 68% 7ROAD SHARES

AsiaInfo Services
04-25-2011
Changyou to Acquire 68% 7Road Shares

SHENZHEN, Apr 25, 2011 (SinoCast Daily Business Beat via COMTEX) -- Chinese leading online game developer and operator Changyou.com Limited (NASDAQ:CYOU) on April 25, 2011 announced the acquisition of a) 68.258% stake in Shenzhen 7Road Technology Co., Ltd. and its associated companies.

hangyou will acquire the 68.258% stake in 7Road with fixed cash consideration of about USD 68.26 million and additional variable cash consideration of a maximum of USD32.76 million that is based on the achievement of the agreed periodical performance within two years ended on December 31, 2012. The acquisition is predicted to be completed by June 30, 2011, subject to regulatory approvals and other conditions specified in an agreement the two parities reached earlier.

Changyou at the same time announced the unaudited fiscal report for the first quarter of 2011, showing total revenue arrived at USD 97.1 million, growing 6% over the previous quarter and 35% over the same period of a year earlier. Net profit hit USD 52.8 million, rising 11% over the previous quarter and 33% over the same period of a year earlier.

Source: www.nf.nfdaily.cn (April 25, 2011)

KEYWORD: SHENZHEN INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
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