China's iQiyi snaps up game maker Skymoons in $300m deal

China's iQiyi snaps up game maker Skymoons in $300m deal

A person holds a phone with Baidu Inc's video streaming service iQiyi in Jinan, Shandong province, China, in this May 25, 2016 photo illustration. Picture taken May 25, 2016. REUTERS/Stringer

China’s iQiyi Inc, often likened to U.S. streaming giant Netflix, has snapped up domestic game maker Skymoons in a deal that could be worth nearly 2 billion yuan ($298.59 million) as it looks to broaden its offerings following a U.S. listing.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter