Apple Set To Buy China's Handseeing For Around $147M

apple.jpg 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.

About the author

Liva Judic joined Search Engine Watch and ClickZ in May 2010 as a news blogger. She has lived and worked across the globe in Madagascar, Switzerland, London, NYC, Asia and is now based in between New York and Berlin.

Her background is in government relations and financial media where she started out as a journalist at Bloomberg and became senior editor at AFX news (now part of ThomsonReuters). Prior to forming her own consultancy Judic was head of international PR for a head of state.

Judic focuses on facilitating brand and marketing transitioning for European startups moving to the US. She has been named one of the Top 50 Industry Influencers of 2014 by AGBeat