Alibaba is divesting its game development subsidiary Lingxi Games through a sale to private equity firm Trustar Capital, with the transaction valued at over $2 billion. The deal represents a significant exit from gaming for the Chinese tech conglomerate, which will pocket the proceeds from the asset sale. According to reporting, Alibaba and Trustar have reached a formal agreement on the terms.
- Alibaba offloads gaming operations to Trustar Capital in a $2bn+ transaction, marking the company's retreat from the developer space.
- The sale funnels substantial capital back to Alibaba while shifting Lingxi Games' future direction under private equity ownership.
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Gameworldobserver
· Aug 17, 11:44 UTC
Report: Alibaba to sell gaming division for over $2 billion
It is allegedly going to be acquired by the investment firm Trustar Capital.
Pocketgamer
· Aug 17, 10:45 UTC
Report: Alibaba to sell Lingxi Games in $2bn deal
Alibaba Group is expected to generate more than $2 billion from the sale of its game developer unit Lingxi Games to private equity firm Trustar Capital, according to a report. Reuters claims that Alibaba and Trustar have reached a formal ag…