Source: Media Outreach
Headline: China Information Technology will acquire not more than 51% of issued share capital of MTGamer, to enter the eSports market and broaden its business portfolio
HONG KONG, CHINA – Media OutReach – 29 November 2017 – ChinaInformation Technology Development Limited (the “Company” and itssubsidiaries, collectively the “Group”, HKSE: 8178) is pleased to announcethat, the Company entered into a memorandum of understanding (“MOU”) inrelation to the possible acquisition of not more than 51% of issued sharecapital of Polar Imagination Limited and its subsidiary (“Target Group”).Meanwhile, N-Media Limited, an internet broadcasting company in the PRC, andICP Inc., a Japanese investment company, also entered into a MOU in relation tothe possible acquisition of not less than 10% respectively of issued sharecapital of the Target Group.
With the brand name of MTGamer, the Target Groupprincipally engages in the provision and operation of online tournament platformfor eSports, as well as the domain and social media (including Wechat andFacebook etc.) providing latest information relating to eSports and gameadvertising.
MTGamer is one of the pioneers in the eSportsindustry in Hong Kong. It has the first professional eSports stadium of over3,000 feet, located at the center of east Kowloon and equipped with world-classsound insulation rooms and professional effects specialized for eSportsscenarios. MTGamer is the leading eSports host and organizer in Hong Kong andMacau, which has hosted the most tournaments in both places. It had been theorganizer of eSports campaigns for various renowned and most-played video gamesincluding League of Legends and Hearthstones and attracted flocks of online andoffline participants and viewers in these events.
eSports will be an official medal sports at the 2022Asian Games which convinces the Group of its rising popularity and recognitionin the world. As a matter of fact, global number of eSports enthusiasts hasrocketed from 89 million in 2014 to 145 million in 2017. The eSports revenuegrowth continues to accelerate more than double from US$194 million in 2014 toUS$465 million in 2017.
Mr. Wong Kui Shing, Danny, Chairman and CEO of theGroup said, “We are of the view that the possibleacquisition can allow the Company to step into this emerging business and grabhold of the valuable opportunities to utilize its knowledge and technologies inits existing business for upstream and downstream development in its eSportsindustrial chain, creating synergy effect to the development of the existingbusiness of the Company. With abundant of excellent players using the platformof MTGamer, we can utilize the big data and other technologies and knowledgefrom the existing business of the Company, and understand the consumptionpatterns and latest trends in the eSports better so that MTGamer can continueto have a competitive edge and to pioneer the eSports industry in Hong Kong bycatering to palate of the players with the latest news and games. The existingbusinesses, on the other hand, can benefit by keeping itself update with markettrend. We believe that the Possible Acquisition shall provide opportunities tothe Company to broaden its business portfolio so as to improve the Group’sfinancial status in the long term.”
About ChinaInformation Technology Development Limited
China Information TechnologyDevelopment Limited (HKSE: 8178) is an innovative IT group, of which itsprincipal business comprises (i) development and sale of computer software andhardware; (ii) the provision of system integration and related supportservices; (iii) provision of IT infrastructure solutions and maintenanceservices; and (iv) money lending and securities trading.
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