Apple close to acquiring Chinese gaming firm Handseeing

Apple (NASDAQ:AAPL) is reportedly in negotiations to acquire Chinese mobile Internet service provider and gaming developer Handseeing Information Technology, a deal said to be valued at roughly $150 million. Handseeing deputy general Tian Bo confirmed the talks to AFP, adding the negotiations with Apple have been going on for "a certain period of time"--according to Tian, he expects some kind of "incremental" announcement to follow next month but declined to confirm the reported price of the acquisition, joking "The higher, the better." Apple has not responded to inquiries about the Handseeing discussions.

Apple has so far struggled to gain a foothold in the massive Chinese consumer market. The computing giant opened its first Chinese store in Beijing in 2008, with plans to open an additional 25 brick-and-mortar locations on the mainland by the end of 2011. Apple's iPhone is officially available via China Unicom, the nation's second largest mobile operator, but a flood of grey market devices have compromised sales. If the Handseeing deal reaches completion, it would herald Apple's first reported Chinese acquisition.

The Handseeing talks are fueling increased speculation Apple is seeking to launch in-house game and application development efforts for devices running its iOS mobile operating system. To date, Apple has created just one iPhone game, 2008's Texas Hold ‘Em.

For more on the Apple/Handseeing talks:
- read this AFP article

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