Skip to main content

Market Overview

Business Re-structuring: China Architectural Takes Online Gaming Stake

Share:
(via COMTEX News Network)--

(Comment on this article at http://www.financialwire.net/2010/08/25/china-arch-gaming-stake/)

August 25, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today's featured news.) -- China Architectural Engineering, Inc. (NASDAQ: CAEI), a provider of design, engineering, fabrication and installation services for building envelope systems, said it has completed its acquisition of 60% ownership of Shanghai ConnGame Network Ltd., an MMORPG (Massively Multiplayer Online Role Playing Game) developer and operator, in exchange for 25 million shares of China Architectural's common stock.

The acquisition of ConnGame was conducted through the acquisition of a 60% ownership in New Crown Technology, Inc., ConnGame's 100% parent.

ConnGame develops MMORPGs for operation in China. The firm focuses on self-developed MMORPGs game titles that are based on China's iconic characters and nostalgic epochs.

According to China Architectural, the acquisition will help the firm take greater advantage of its core architectural engineering and design market, and capture China's growing online game market.

China-based China Architectural Engineering is a provider of design, engineering, fabrication and installation services of high-end curtain wall systems, roofing systems, steel construction systems, and eco-energy systems.

Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com/ss/html/hpcompany.html). Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network's "FirstAlert(tm) Daily" (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright (C) MMX, FinancialWire(tm); All rights reserved.

[hlmsmlh] [bsnnssb] [restrctrng] [ntrntnlcmpnsbsnss] [chnchn] [bldgcnstctn] [dscrtnryrn] [entrtnmntnm] [gmngnmg] [tchnlgy] [gmngtchnlgy] [mrgrsacqstns] [ftrdnwswnd]

http://www.financialwire.net
View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com