China and Russia video game firms Gaea Tech and Gaijing Entertainment set for merger and IPO
Dec 06, 2019 (China Knowledge) - China’s gaming company Shenzhen Gaea Technology Corporation has announced plans to merge with Russian video game developer and publisher Gaijin Entertainment. After the merger, the joint-company intends to apply for initial public offering (IPO).
Founded in 2014, Shenzhen Gaea Technology Corporation is a global interactive entertainment company. It is currently one of the fastest growing companies in China with over 1,000 employees in 11 countries and regions, and has developed and published over 20 games on multiple platforms, such as Soul Clash and Ace of Arenas.
About the Russian counterpart Gaijin Entertainment it is one of the largest independent video games companies in the country. Established in 2002, it is known for games such as War Thunder, Crossout and Star Conflict.
Both firms have already established partnerships spanning over 5 years, with the two teaming up in the development and publishing of mobile version of popular game Crossout. The merger is expected to help both company pool individual expertise and resources, and increase competitiveness of its video games business within the Asian market.
Both have announced plans to IPO outside of mainland China, although specific financial details were not disclosed.
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