LINKTONE ACQUIRED CONTROLLING STAKE OF 50.01% OF LETANG GAME LTD
2010 - Jakarta, 18 Jan 2010

On January 13, 2010, one of PT Media Nusantara Citra, Tbk (“MNC”) subsidiary, Linktone Ltd (Nasdaq : LTON) has acquired controlling stake of Letang Game Ltd (“Letang”). Letang is a private Chinese company specializing in mobile games and PC online games with innovative games utilizing leading edge technology.

Linktone has acquired 50.01% of equity shares of Letang for total amount of USD 9.15 million in cash with payment of USD 2.56 million in cash upon the closing of the acquisition and the balance will be payable in 2010 to 2011 subsequent to Letang’s achievement of  agreed upon certain financial and operational milestones.

Letang supported by managements’ expertise in mobile games in addition to more than 80 professionals, has offered high quality products portfolio in both PC Online games and Mobile Games, that can be played in major global operating systems and platforms such as Flash, Symbian, KJava, MTK, Android, Blackberry and Apple iPhone.

“The acquisition of controlling interest in Letang, is our top strategic priorities for MNC and Linktone, as it will continue our efforts to deliver sustainable growth and profits to our shareholders. Letang’s strong R&D games expertise combined with Linktone’s strong distribution capabilities in China and MNC’s strong content production and distribution in Indonesia will further strengthen our presence in mobile gaming market, both in Indonesia and in China” said Hary Tanoesoedibjo, Group President & CEO for MNC and Linktone.  

“We believe that Linktone’s strategic investment in Letang will benefit for both Linktone and Letang as it will expand our game market share in China as well as in overseas market”, adds Xiaoqing Fan, CEO of Letang.