Forgame Announces the Joint Development with Magic Feature of a Mobile Game to be Published on a Worldwide Basis

Publish Date:2014-08-21 source:Forgame

(Hong Kong, 21 August 2014) – Forgame Holdings Limited (“Forgame” or the “Group”) (stock code: 484), a leading developer and publisher of webgames in China and Magic Feature Inc. (“Magic Feature”), a mobile game developer and distributor that publishes mobile games worldwide, today announced that Foga Tech Limited (“Foga Tech”), a wholly-owned subsidiary of the Group, and Magic Feature have entered into a non-binding memorandum of understanding (the “MOU”) for the joint development of a game for mobile devices to be published on a worldwide basis. Magic Feature is the producer of the game and will contribute art and design resources, and Foga Tech will contribute source coding resources, while both parties will jointly provide mobile game development resources.
Foga Tech and/or its affiliates will publish the simplified Chinese version of the game in the PRC, and Magic Feature and/or its affiliates will publish the game irrespective of languages and geographical limit (excluding the PRC). Both parties will share the proceeds of the sale of virtual currency in the PRC and outside of the PRC, respectively, with each other. It is expected that beta testing of the game will be conducted in 2015.
Mr. Dongfeng Wang, Chairman and Chief Executive Officer of Forgame, said, “We are very pleased to be able to continue the deep cooperation with Magic Feature. With the proven success of Magic Feature's ability to design and publish games outside of the PRC, we see a lot of synergies in this cooperation.”
Forgame is a leading developer and publisher of webgames in China. It is mainly engaged in the business of developing and publishing webgames and leveraging its expertise by expanding into the mobile games market. Magic Feature, managed by a strong professional team, possesses valuable development experience, unique marketing capability and rich overseas market experience, which offers outstanding opportunities for the Group to further expand its coverage of the overseas mobile games market. The Group and Magic Feature would continue to explore in-depth cooperation across many areas in order to realise the greatest benefits and further develop the mobile games market.
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About Forgame Holdings Limited (Stock Code: 484)
Listed on the Hong Kong Stock Exchange on October 3, 2013, Forgame Holdings Limited is a leading developer and publisher of webgames in China with a fast-growing mobile games business. Since its establishment in 2009, the company has successfully developed and launched more than 40 popular games. Its publishing platform, 91wan, has released 105 self-developed and licensed webgames and had attracted over 207 million registered players as of December 31, 2013.
About Magic Feature Inc.
Magic Feature is incorporated in the British Virgin Islands (BVI). Its wholly owned subsidiary Mad Head Limited (Mad Head) is a mobile games developer headquartered in Hong Kong. Mad Head is dedicated in developing innovative and interesting mobile games applications for global users. The company has successfully developed a number of mobile games including “Tower of Saviors” (「神魔之塔」) and “Brain Lab” (「左右脑实验室」), with a substantial number of users and high download rates around the world.