Ku6 Media (Nasdaq: KUTV), an Internet television company in China, announcedthat Ku6 and the shareholders of Hangzhou Soushi Networking Co., Ltd. (Pipi), a P2P based internet video platform in China, have agreed to the sale of Pipi to Ku6, in an all stock transaction under which all of the equity interests in Pipi will be sold to Ku6 in exchange for an aggregate of 2,212,114,257 Ku6 ordinary shares. After the completion of the merger, Pipi will become a wholly-owned subsidiary of Ku6.
Leading business intelligence and consulting firm Pearl Research forecasts the online games market in China will exceed $8 billion in 2014. In 2010, the online games market grew 25% to reach $5 billion. These findings are contained in Pearl Research’s new 150-page “Online Games Market in China” study.
UltiZen Games announced the acquisition of Red Entertainment Corporation Limited, a Japanese game developer. Created over 27 years ago, Red's many projects include such games as the "Sakura Wars" series, "Tengai Makyou" series and "Scared Rider Xechs". UltiZen will work closely with Red to co-develop PC online games as well as smart phone games. The two companies have already decided to develop 5 titles together in 2011.
Giant Interactive Group Inc. (NYSE: GA) announced that it plans to commence official closed beta testing for ZT Online 2 on April 8, 2011. ZT Online 2 is the Company's new internally developed, martial arts, massively multiplayer online role playing game ("MMORPG"), which features both traditional ZT Online gameplay and new casual gameplay such as pet-raising, attractive 2D graphical effects, and support for 40,000 concurrent gamers per shard.
Amazon.com (NASDAQ:AMZN) announced the launch of Amazon Cloud Drive (www.amazon.com/clouddrive), Amazon Cloud Player for Web (www.amazon.com/cloudplayer) and Amazon Cloud Player for Android (www.amazon.com/cloudplayerandroid). Together, these services enable customers to securely store music in the cloud and play it on any Android phone, Android tablet, Mac or PC, wherever they are.
Games2win, a casual and social online games company has announced a Series B investment round from Clearstone Venture Partners and Silicon Valley Bank, raising $6 million in financing. Alok Kejriwal and Mahesh Khambadkone founded Games2win in 2007. The company has more than 400 games that are played by over 20 million consumers each month, claims the company. Rajan Mehra of Clearstone Venture Partners has joined the board of Games2win. Based in Mumbai, Games2win has 70 employees.
Total Immersion, which focuses on augmented reality, announced today that it has secured USD $5.5M in a funding round led by Intel Capital joined by existing investors Partech, iSource and Elaia Partners. The new funding will be used towards further development of the D’Fusion platform and to drive new usage of augmented reality (AR) for end-users.
Evergreen Events, organizers of the 2011 LOGIN Conference, has secured the creator of the Ultima series, Richard Garriott, as the keynote speaker. Held on May 16-18, 2011 in Bellevue, Wash., the LOGIN Conference annually attracts hundreds of individuals in the development and business side of the online game industry to the Seattle area.
Leading market research and consulting firm Pearl Research is pleased to announce the release of its new “Internet Cafes in Asia” study. This Internet cafe report is part of Pearl Research’s “Online Games in Asia” subscription series, which covers China, Korea, Taiwan, India and Vietnam. Highlights from the study:
Online photo site Shutterfly (NASDAQ:SFLY), service, announced today that it has entered into an agreement to acquire Tiny Prints, Inc., a privately-held company based in Sunnyvale, CA. Tiny Prints operates tinyprints.com and weddingpaperdivas.com, two fast growing ecommerce brands offering cards, invitations, personalized stationery and photo books. Upon the closing of this transaction, the three co-founders, together with the entire Tiny Prints team will join Shutterfly.