Apple Set To Buy China's Handseeing For Around $147M
Apple is in advanced talks to purchase Chinese ISP and game developer Handseeing, Reuters reported.
According to Global Times, the transaction is worth around 1 billion yuan, or just over $147.5 million. “We should have a decision in about one or two months,” Reuters cited Tian Bo, vice-president for operations, as saying. “They’re still talking about it and it’s not quite settled yet right now,” he added. The purchase would be Apple’s first such operation in China. Handseeing specializes in online games based on popular Chinese folklore. This would give Apple a privileged entry point into the country’s huge gaming market. According to HSBC, China’s online services are growing at a more than 30% annual compound annual growth rate in terms of revenues, with online gaming accounting for about 50% of that figure.