Giant Interactive (GA) Agrees to Acquire 25% Stake in 51.com for $51M
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Giant Interactive Group Inc. (NYSE: GA) today announced that it has entered into a definitive agreement to acquire redeemable preferred shares, representing a 25% interest in Five One Network Development Co., Ltd, a leading Chinese online social networking service provider, for approximately $51 million.
51.com is the largest independent social network service provider in China in terms of its total number of registered users, as based on its internal research. As of June 15, 2008, the total number of registered users on 51.com was approximately 120 million, monthly unique visitors were approximately 31.5 million, monthly unique visitors logged in 18 times per month on average, average daily page views were approximately 350 million, and average monthly page views were over 10 billion.
Giant Interactive Group, Inc. develops and operates online games in the People's Republic of China.
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