Shanda Acquires Mobile Games Developer Digital-Red
"SHANGHAI, China, Sept. 7 /Xinhua-PRNewswire/ -- Shanda Interactive Entertainment Limited (Nasdaq: SNDA - News), the largest operator of online games in China, announced today that it has signed an agreement to purchase the remaining interest that it did not already own in Beijing Digital-Red Mobile Software Co., Ltd., or Digital-Red ( http://www.worldup.com ), a leading developer of games for mobile devices. Shanda had initially purchased a minority stake in Digital-Red on January 13, 2004. Pursuant to the terms of the agreement, an initial installment will be paid in cash, with the remaining consideration to be paid in cash in 2006 based on the actual earnings performance of Digital-Red in 2005."