Alibaba to Sell Lingxi Games to Trustar for $2+ Billion

Alibaba and Trustar reached a formal acquisition agreement for Lingxi Games valuing the deal at over $2 billion, per an internal memo from Lingxi CEO Zhou Bingshu. Gaming builders in Asia should track consolidation trends; big tech is pruning gaming portfolios, which opens acquisition opportunities but signals talent and capital will flow to independents and specialists.

Source: ET Tech ↗