Alibaba reportedly nearing $1.5 billion deal for gaming unit
Alibaba is reportedly close to selling its gaming division, Lingxi Games, to private equity firm Trustar Capital for over $1.5 billion. The talks are ongoing and no final agreement has been reached.
Alibaba is reportedly in advanced discussions to sell its gaming unit, Lingxi Games, to private equity firm Trustar Capital. The potential deal is said to be valued at more than $1.5 billion.
The negotiations are ongoing and a final agreement has not yet been announced. The completion of the transaction is contingent on the outcome of these discussions.
Lingxi Games develops and publishes mobile titles, including the popular game "Three Kingdoms Tactics." The division also operates distribution services for game developers and players.
This potential sale comes as Alibaba undergoes a significant restructuring, aiming to spin off or divest various business units.