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China’s iQIYI acquires developer Skymoons in deal worth up to $300 million

Date Type Companies involved Size
July 19th, 2018 acquisition iQIYI
Skymoons Interactive
$190m
China’s iQIYI acquires developer Skymoons in deal worth up to $300 million

Chinese Netflix-like online video platform iQIYI has acquired mobile games developer Skymoons for $190 million.

The deal could rise by a further $108 million in additional payments depending on performance.

The acquisition comes just months after iQIYI floated on the US NASDAQ in an IPO worth $2.4 billion. The company is a subsidiary of internet search giant Baidu.

Cross-platform plans

Skymoons has published titles including Legend of the Three Kingdoms, Logres of Swords and Sorcery, My Own Swordsman and The Journey of Flower.

iQIYI said the deal would enable the synchronised development and promotion of mobile games, films, anime and comics based around the same IP.

“We are pleased to welcome Skymoons into the iQIYI family as we further broaden our comprehensive offering of entertainment content across multiple formats,” said iQIYI CEO Yu Gong.

“iQIYI has always been pursuing a diversified monetization model that fully leverages the IP value in our content. We believe Skymoons is a natural extension to our business and will strengthen iQIYI's media platform and our overall ecosystem.”

In February 2017 it was announced that Skymoons had opened a studio in Edinburgh, Scotland.


Senior Editor

Craig Chapple is Senior Editor of PocketGamer.biz and InfluencerUpdate.biz. He was previously Deputy Editor at Develop and Online Editor at Nintendo of Europe.

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