KongZhong acquires gaming firm Dacheng for $80 million

Chinese mobile web services provider KongZhong Corporation announced it has signed a stock and cash deal to acquire digital gaming company Shanghai Dacheng Network Technology for up to $80 million, depending on Dacheng's 2010 net profit after tax. Dacheng develops massively multi-player online role-playing games powered by its proprietary Dazzler3D engine--according to KongZhong, the post-acquisition company will focus on both MMORPGs and mobile games.

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