Chinese online game developer and operator Changyou.com Limited and its majority shareholder Sohu.com Inc. have jointly announced that the two parties have entered into a definitive agreement under which Changyou.com will acquire 17173.com, a leading gaming information portal in China, from Sohu.com for USD162.5 million.
According to the agreement of the two parties, Changyou.com will acquire all assets associated with the 17173 business for fixed cash consideration of USD162.5 million. The transaction is subject to conditions specified in the agreement, and is expected to close in December 2011.
Meanwhile, considering the transaction agreement, Sohu.com and Changyou.com have revised their existing non-competition agreement. Sohu.com stated that it will not compete with Changyou.com in the 17173 business for a period of five years after the c...
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