HONG KONG, Jan. 6, 2015 /PRNewswire/ -- NetDragon Websoft
Inc. ("NetDragon", Stock Code: 777), a leading mobile Internet
platform developer and operator in China, today announced the signing of a
definitive stock purchase agreement for a US$52.5 million Series A equity funding round for
its online education subsidiary with participation from
international investors that include IDG Capital Partners, Vertex
Venture (wholly-owned subsidiary of Temasek Group) and Shenzhen-listed animation producer Alpha
Animation. With the proceeds from this round that will value its
education subsidiary group at US$477.5
million on a fully-diluted basis, NetDragon plans to
accelerate the product development of its online/mobile education
ecosystem platform and solidify its first mover advantage in the
design of a disruptive education solution that truly addresses the
needs of students, teachers and parents.
NetDragon is building a lifelong education ecosystem by
developing K-12, vocational, non-academic credential and lifelong
educational products by leveraging mobile internet technologies to
disruptively enhance the learning environment, using gamification
models to make learning fun, and applying user behavioral analysis
to deliver innovative pedagogical approaches.
Mr. Dejian Liu, Chairman and
Executive Director of NetDragon commented, "We believe the
education industry is ripe for a major change. There is a strong
and ever-growing need for a mobile educational platform that
creates true educational value and makes people want to come back
to learn more. We at NetDragon are fortunate to be in a very unique
position to build such a product with our proven world-class mobile
internet and gaming expertise, large-scale technology resources and
team infrastructure that we have built out of scaling several
successful businesses over the many years since our inception."
Mr. Liu added, "We are excited to have the opportunity to work
with these excellent partners as we continue to intensify our
effort to develop the best educational products that truly changes
peoples' lives. Both IDG and Vertex are amongst the most successful
global venture capital investors in the mobile internet space, and
their investment is a strong vote of confidence in our vision and
execution capabilities. Alpha Animation is one of the leading
and most influential animation content production companies in
China, and we believe their
support as a strategic investor will create valuable synergies in
the areas of content and branding that will greatly enhance our
educational offerings.
Mr. Dongliang Lin, Partner at IDG
Capital Partners commented, "We are very pleased to continue our
cooperation with NetDragon to make such a transformational impact
in the online education field. We believe NetDragon is at the
forefront of this field with its holistic ecosystem approach to
address the deeply-rooted fundamental issues in our education
system, and we are confident that the era of mass-scale
personalized mobile learning will arrive with the efforts of the
NetDragon team."
Mr. Tay Choon Chong, Managing
Director and Chief Investment Officer of Vertex Venture added, "We
are very excited to participate in NetDragon's latest online
education business venture. Education is crucial to an individual's
development and is pivotal to improving one's quality of life.
However, not much innovation has happened in this sector over the
past many years. Mr. Dejian Liu
has always had the vision to develop and apply technology
ahead of the rest. We believe he will successfully lead NetDragon
this time round to disrupt this sector and bring huge value to
educating our future generation!"
Mr. Dongqing Cai, Chairman of
Alpha Animation added, "We are extremely delighted to partner with
NetDragon in this rare opportunity to invest in an unique business
model being operated by a team with an unparalleled track record
under the visionary leadership of Mr. Dejian Liu who has repeatedly created and scaled
several businesses with huge success. Alpha Animation's vision to
provide children with happiness is directly aligned with
NetDragon's vision of a product that makes mobile learning both
highly effective and fun. As China's leading animation and
entertainment company, we are confident that this highly
synergistic partnership will bring about significant value to
shareholders of both companies."
About NetDragon
NetDragon Websoft Inc. (HKSE: 0777) is a leading
innovator and creative force in China's mobile internet industry. Established
in 1999, NetDragon is a vertically integrated, cutting-edge R&D
powerhouse with a highly successful track record which includes the
development of flagship MMORPGs such as Eudemons Online and Conquer
Online, China's number one online
gaming portal, 17173.com, and China's most influential smartphone app store
platform, 91 Wireless, which was sold to Baidu in what was at the
time the largest internet M&A transaction in China in 2013. Being a China's pioneer in overseas expansion,
NetDragon directly operates a number of game titles in over 10
languages internationally since 2003. In recent years, NetDragon
has also become a major player in China's online and mobile education industry
as it works to leverage its mobile internet technologies expertise
and know-how to develop a game-changing education ecosystem
product.
For investor enquiries, please contact:
NetDragon Websoft Inc.
Ms. Maggie Zhou
Senior Director of Investor Relations
Tel: +852 2850 7266 / +86 591 8754 3120
Email: maggie@nd.com.cn; ndir@nd.com.cn
Website: www.nd.com.cn/ir
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SOURCE NetDragon Websoft Inc.
