GIC buys Shanda Games stake; Shanda acquires US firm

The Government of Singapore Investment Corp purchased 5.4 percent stake in Shanda Games, China's second-largest online game company.

Citing a regulatory filing made after Shanda's initial public offering in 2009, Reuters reported the stake sale along with the online game company’s acquisition of U.S. firm Mochi Media for $80 million.

The U.S. acquisition will enable Shanda Games to diversify from operating multiplayer online role-playing games to gaining access to an international user base, as most of its users are in China, and to Mochi's portfolio of 15,000 web-browser games.

Shanda Games chief executive Diana Li told Reuters, "At this time we always keep our mind open to great opportunities in content and to strengthen our platform."