Chinese wireless value-added services firm KongZhong Corporation announced that it is planning to buy Simlife International Inc., a mobile game developer in China.
KongZhong has agreed to pay USD3 million in cash to the shareholders of Simlife. An additional payment of USD1.25 million in cash and the issuance of 6 million of KongZhong's ordinary shares to [...]

IDGVC Partners and Infiniti Capital are splitting a USD20 million investment in a Chinese mobile gaming developer.
Based in Beijing, One Net Entertainment is targeting both the mobile and online PC gaming markets through its websites 798uu.com and 798game.com, respectively. Three massive multiplayer online role-playing games are planned to launch in 2009 for online PC users [...]