(17 April–Hong Kong) CdV Partners Holding Limited(“CdV Partners”), a leading venture capital group in Asia today announces that it has set up an alliance with Sunity Online Entertainment Limited (“Sunity Online”), a pioneer of online game and software developer in China. The alliance will focus on developing the burgeoning online game and mobile entertainment app marketsin Southeast Asia and Africa. Industry research suggests the online game market scale of Southeast Asia and mobile entertainment app will reach US$100billion this year, a growth of 20% year-on-year, and expecting to exceed US$180billionin 2015.Meanwhile, Africa will become one of the online game and mobile entertainment app sales markets with strongest growth potentials.
Sunity Online has submitted application to the Securities and Exchange Commission (SEC) to list on the main board of Nasdaq and is expected to be officially listed in the 4Q of this year. Leveraging on its network resources in the market and capital investment of hundreds of millions of dollars, CdV Partners will fully support the expansion of Sunity Online’s business into Southeast Asian and African market. Sunity Online mainly engages in developing and marketing online games and software operating and promotion on computers, smart phones and tablets. The Company has developed popular online games such as《大漢風雲》、《三國演義》、《搜神online》, and is one of the few qualified institutions which are allowed to issue virtual currency.
Mr. Samuel Lim, Chairman of CdV Partners Holding Ltd, stated: “We are pleased to setup an alliance with Sunity Online. As one of the frontrunners in the China online game industry, Sunity Online has received approvals to list on the main board of Nasdaq by the end of this year, and the Company has plans to list its new business operated in Southeast on the main board of Hong Kong Stock Exchange in the future. We will provide full support to Sunity Online and are confident that it will be able to have extraordinary performance in the online game industry which has huge upside.”
Mr. Zhang Fan, Chairman of Sunity Online Entertainment Ltd, stated: “Setting up an alliance with CdV Partners will enable us to maintain sustainable growth and to generate share holders’ value subsequent to our trading debut. In the future, the Group has formulated a strategy to deal with the growing competition in online game industry by focusing on the operation and marketing of online games. Capitalizing on their end of forming one-stop platform, the Company will continue to provide outstanding services on facilitating the marketing, R&D and operation of online games. Our target is to become the largest online game platform in 5 years.”
Sunity Online currently operates a one-stop online game platform and has various games already up and running. The Group expects 3D games will become the trend and will focus on this opportunity, aiming to gain increasing recognition in the market.
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