China’s Perfect World has agreed to acquire C&C Media, a Japanese online game operator, for $21 million.
Perfect World, which is traded on NASDAQ and has a market value of almost $2 billion, bought the company from Japanese video game publisher Atlus.
C&C Media was created in 2001 and it runs MK-Style, a web site with online games and services. Perfect World makes high-end online games such as Perfect World as well as casual online games such as Hot Dance Party. The company has been expanding into a number of territories, including North America.
Yesterday, another publicly held Chinese game company, The9, invested $20 million for a majority stake in U.S.-based game maker Red5 Studios. In January, China’s Shanda Games bought casual game monetization firm Mochi Media for $80 million.
The Chinese game companies are flush with cash because of the popularity of their massively multiplayer online games, which are free-to-play but generate revenue through virtual goods purchases. You can expect to see more investments and acquisitions.