September 1st, 2006 by Arjan Olsder Posted in Companies & M&A | No Comments »
Irish based developer Upstart Games has been acquired by China’s second largest privately owned media company Sun TV Shops. Under the terms of the acquisition, Upstart will be fully owned by Sun Media Investment Holdings. Though initial plans where to start a VC between upstart and STVS, Upstart will now be used by STVS as a distribution arm into Europe.
"We’ve been working with Sun TV trying to extend our distribution into the Chinese market," O’Neill told ENN. "When we started working closer with them, we saw the library of media assets which they control and saw that it could be of benefit to form close links with the company.” said Brian O’Neill, "We have developed a number of tools and technologies which are primarily used in games but can actually be very easily applied to other content. What the deal means for us is that we can now extend our content offering. This doesn’t mean that we’re giving up games because that’s obviously our core business but it means that we’re branching out into other areas."
