Taiwanese game developer XPEC Entertainment today announced that it will acquire Tongbu Technology Ltd., a mainland China mobile app distributor, for RMB1.068 billion (about US$174.5m).
Starting life as an iOS software and content manager, Tongbu has since branched out into Android app downloading services. The company drives turnover through revenue-sharing games on its platform and advertising, amongst other sources.
Tongbu was founded in 2010 by Xiong Jun, the founder of app distributor 91 Wireless which was bought by Baidu last year for US$1.85 billion. Mr. Xiong reportedly sold 91 Wireless to NetDragon in 2008.
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.
Monthly Membership
Yearly Membership
What you get
Full access to all premium content and our full archives
Members'-only newsletters
Preferential access and discounts to all TechNode events
Direct access to the TechNode newsroom
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.