Brief News: TA Associates Invests in a webgame company, Forgame

Publish Date:2012-06-15 source:Forgame

A private equity firm, TA Associates recently announced its completion of a significant investment in a webgame company, Forgame Group ("Forgame"), and has become Forgame's minority equity investor. Other shareholders of the company include Qiming Venture Partners and Ignition Capital Partners from the US. The particulars as to the transaction remained undisclosed.

Recently, the online game industry has been recovered by webgames and mobile games. Forgame established its game development brands of Feiyin and Jieyou as well as its publishing platform, 91wan of Weidong. Forgame has launched more than 20 webgames, including Ming Dynasty, Soul Guardian and Soul Guardian II.

MR. Tan Hainan, a Director of TA Associates in China expressed, "Diversified revenue channels proved the company's content development strengths and game networks have contributed to Forgame's rapid growth since its establishment. In light of the Company's new product planning, we expect its business performance to maintain rapid growth."