Reliance Games sells 10% stake in Zapak to Chinese firm Lead Eastern Group

Visual from Zapak's website. September 2015

Reliance Games, the mobile gaming division of the Anil Dhirubhai Ambani promoted Reliance Entertainment Group, will sell 10% stake in its mobile gaming company, Zapak Mobile Games Pvt. Ltd, to Lead Eastern Group of China for $15 million to create and market mobile games globally.

Separately, Reliance Games, Lead Eastern Investment and Creative Cultural of Hong Kong have agreed to form a joint venture company in China to create, operate and market mobile games based on intellectual properties owned and acquired by Zapak.

Creative Cultural is a firm engaged in the business of intellectual property based entertainment including gaming.

The parties will own 40%, 51% and 9% stakes respectively in the China joint venture, Reliance Games said in a statement, without disclosing the investment in the joint venture.

“We are delighted to partner with Lead Group, and we believe this will accelerate the growth and reach of our gaming business in the China marketplace, along with continued expansion in the global markets. This partnership will enable both the companies to leverage their core competencies,” said Amitabh Jhunjhunwala, group managing director, Reliance Group.

Chunfeng Wang, chairman, Lead Eastern said the strategic partnership with Reliance Games will enable both companies to expand in China and the global markets.

Mumbai-based Reliance Games was founded in 2006. With over 200 million downloads globally, Reliance Games currently operates three studios worldwide.

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This article was first published on Livemint.com

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.