Shanghai-based Moli Group Joins With the Commanding U.S. Global Mobile Game Developer Oberon Media for Games and Content Distribution in China

HONG KONG, Feb, 13, 2011 /PRNewswire-Asia/ -- The CASH Group* [1049:HK], a services developer of internet and mobile services in China, today announces a tie-up between its six-year-old Moli Group (meaning magical power) platform, based out of Shanghai, with Oberon Media, based out of New York City, United States.

The tie-up takes the form of establishing a joint venture. In summary, the Moli Group acquires from Oberon Media, an 89.7% stake in Oberon Information, with existing games and content distribution in China. Oberon Media retains the rest of the 10.3%. The transaction size is around US$10,000,000 and through a series of transactions will see Oberon Media become a shareholder of around 1% of the CASH Group in exchange for its 89.7% stake in Oberon Information.

The aim of the tie-up is to establish a world-class platform for games and content distribution in China. The target segments include Moli's database of 40 million online games subscribers (over its award-winning games) and the lucrative mobile internet market segment which runs into the hundreds of millions of users.

Mr. Bankee Pak-hoo Kwan, Chairman and CEO of CASH Group, said, "… We are very excited over the tie-up with Oberon Media, one of the largest global mobile game developers. Oberon is an indisputable global leader in games and related contents with world-class research and development and game distribution capabilities across various platforms. We have our own database of online subscribers and distribution channels in China as well as government and local networks. We believe that the tie-up is only the beginning of an unfolding story, which will see significant penetration into the lucrative mobile internet market. It also accords with our vision to lead and not follow the competition."

Mr. Amir Gal-or, Managing Partner of Infinity I-China, which is an investing fund in Oberon China, said, "This acquisition of Oberon Media, by global games leader Moli validates the underlying reality that strong Chinese companies are starting to build strength locally by acquiring global and western technology and know-how."

Mr. Tal Kerret, Chairman of Oberon Media, said, "Oberon Media has invested years in developing its China strategy, and I personally visited China repeatedly over this process. We learned that the best opportunity to succeed in China is with a local industry partner as part of a larger group and we found that Moli, with the leadership of Mr. Kwan at CASH, was a perfect match."

About CASH Group

The CASH Group is a services developer. It currently focuses on developing internet and mobile related services in China. Accordingly, the CASH Group also focuses on expanding its Moli Group based out of Shanghai for online games as well as other internet and mobile activities, as the opportunities arise.  In relation to the Moli Group, the Group has spent the last six years on developing the Moli Group into an online games platform in China.  The Moli Group now has approximately 300 dedicated employees and a number of award winning online games with a database of some 40 million subscribers. For more details, please visit www.cash.com.hk.

Oberon Media/Oberon Information

Oberon Media is a member of the Oberon Media Group, one of the largest global mobile game developers, which has set an industry standard on games and related contents with its game solutions being adopted by some of the world's innovative corporations including Microsoft, AT&T, Electronic Arts, Orange France and Yahoo!. Oberon Media Group's platform combines casual and social game content, merchandizing and features to fulfill each partner's specific needs (http://corp.oberon-media.com/about.asp). Oberon Media, as a member of the Oberon Media Group, was itself founded in 2003 and headquartered in New York City.  It focuses on development, publishing and distribution of casual games across multiple platforms, with offices in North America, Europe and Asia. According to Oberon Media, it is backed by Goldman Sachs, Morgan Stanley and Oak Investment Partners and has 480 employees, over 100 strong distribution partners, 350 studio partnerships around the world with a catalogue of over 1,200 games. Oberon Media established Oberon Information in June 2009.  Oberon Information is principally engaged in development, distribution and marketing of online mobile games in China as licensed distributor.  It also provides research and development of hardware and software technology systems and services related to technical transfers, consultation and support, as well as other relevant services.  

* Celestial Asia Securities Holdings Limited and its subsidiaries

Please note: The above information contains forward-looking statements that involve risks and uncertainties and are based on information of the parties in good faith believes to be reliable as of the date thereof. The actual results may differ. Please exercise care and caution and read the information with the public announcements and circulars which the information is subject to. All figures are approximation.

SOURCE Celestial Asia Securities Holdings Limited