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Online Game Developer Perfect World Buys C&C Media For $21 Million

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Daily Crunch: Dog Days Edition

Perfect World, a NASDAQ-listed online game developer and operator based in China, has agreed to acquire C&C Media, a Japanese online game operator from computer and video game developer ATLUS. Perfect World, which currently boasts a market cap of nearly $2 billion, will pay an aggregate purchase price of approximately $21 million.

C&C Media was founded in June 2001 and operates a website called “MK-STYLE” which features online games and related services for individual users.

Perfect World primarily develops online games based on proprietary game engines and development platforms. The company’s current portfolio of self-developed online games includes massively multiplayer online role playing games “Perfect World,” “Legend of Martial Arts,” “Perfect World II,” “Zhu Xian,” “Chi Bi,” “Pocketpet Journey West,” “Battle of the Immortals” and “Fantasy Zhu Xian;” and an online casual game: “Hot Dance Party.”

While a substantial portion of its revenues are generated in its home country China, Perfect World’s games have been licensed to leading game operators in a number of countries and regions in Asia, Europe and South America. The company also generates revenues from game operation in North America.

The news of the acquisition comes days after Perfect World rival The9 invested $20 million in U.S.-based Red 5 Studios.

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