BEIJING, BEIJING, 中国, November 15, 2018 /EINPresswire.com/ — Infinities Acquires Renren.com, Giving New Leverage to Perfect World Investment & Holding Group
Beijing Infinities Interactive Media Co., Ltd. (“Infinities”) announced on Nov. 14 that it has strategically acquired Renren.com (NYSE: RENN) (“www.renren.com”) and its related social network, live streaming services and value-added businesses. Renren.com will become a significant component of Infinities’ smart media matrix.
It is worth noting that the acquisition is also related with Perfect World Investment & Holding Group, a globalized cultural and entertainment group. In late 2017, Infinities announced that it has acquired the pan-entertainment media business StarGame from Perfect World, which includes media sites and gaming communities like TG Bus.COM, 178.COM and NGA.CN, covering pan-entertainment contents like games, comics and animations. These content sites account for almost half of the domestic market share of the same type. At the same time, Perfect World Investment & Holding Group announced its strategic investment in Infinities and had thus become a shareholder of the interactive media company. According to a joint statement, the two companies will integrate each other’s resources in technology, contents, traffic and data to build China’s biggest pan-entertainment media matrix and explore new opportunities in the country’s media & big data industry.
Analysts say that the acquisition of Renren.com will strengthen the pan-entertainment media matrix co-built by Infinities and Perfect World. The large amount of existing contents and data will promote the development of Renren.com’s social network business, while Renren.com’s channel resources will also promote the core businesses of pan-entertainment media matrix and facilitate the strategic development of various business segments within the Perfect World Investment & Holding Group. Citing an example ,Perfect World Education, China’s leading education institute for digitalized cultural and creative industry, has formed partnership with international organizations like the UNESCO, world leading institutes of higher learning, as well as core IP owners like Gnomon, which provides a quality platform for creative talents to acquire up-to-date knowledge and industry expertise. As a social network site derived from universities, Renren.com can improve its efficiency in serving the talents and increase Perfect World’s brand recognition among college students around the world. Therefore, the acquisition of Renren.com is of big significance to Perfect World’s industrial chain development and the company’s youth-oriented strategy.
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Source: EIN Presswire