Shanda and Kingsoft in expanded partnership

AP News
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Posted: Dec 28, 2009 12:03 PM

Shanda Games Ltd., a Chinese video game company, said Monday it is partnering with Kingsoft Corp. in a joint venture aimed at developing new online games.

The companies did not disclose financial terms of the deal, which expands an existing partnership in which they both operate Kingsoft's "JX" martial arts game franchise.

Under the new agreement, the companies plan to cooperate on improving other games published by Kingsoft, which is based in Beijing, and distributing them both in China and internationally.

Shares of Shanda, based in Shanghai, slipped 2 cents to $10.23 in midday trading.