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.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com