BEIJING,
Aug. 12, 2016
/PRNewswire/ -- KongZhong Corporation (NASDAQ: KZ) (the
"Company"), a leading online games publisher and developer in the
PRC, announced that the Company and its affiliate,
Beijing AirInbox Information Technologies Company Limited ("Kong
Beijing" and, together with the Company, the "Kong Parties")
have executed a letter agreement (the "Letter
Agreement") Wargaming.net Limited ("WGN")
on August 6, 2016.
In August 2010, Kong Beijing
entered into a "World of Tanks" licensing agreement with
Wargaming.Net LLP ("WGN LLP"), which granted Kong Beijing the
exclusive right to copy, distribute, operate and sell the World of
Tanks game in China. In
May 2012, the Company entered into a
strategic partnership agreement with WGN LLP, which granted the
Company a right of first refusal to exclusive license
to distribute and operate future WGN LLP games in China. In December 2015, WGN LLP assigned its rights and
obligations under the WOT License Agreement to WGN.
The Letter Agreement provided that the Kong Parties shall
waive the right of first refusal under the strategic partnership
agreement and certain non-competition rights under the WOT License
Agreement regarding WGN's mobile/windows 10
game titled "World of Tanks: Blitz" ("Blitz"),
which has been distributed outside of China in 2014. The Kong
Parties agree and acknowledge that WGN has exclusive rights to
develop, advertise, distribute or sell Blitz in China with other parties. On the other
hand, WGN acknowledges and agrees that the Kong Parties are free to
develop, produce, release a third party shooting game titled "Iron
Storm" in China.
About KongZhong
KongZhong Corporation (NASDAQ: KZ), listed on Nasdaq since
2004, is a leading online game developer and operator in
China. KongZhong operates three
main business units, namely Internet Games, Mobile Games and WVAS.
Under Internet Games, KongZhong operates the largest Chinese
military gaming platform under the "WAR SAGA" brand, which includes
games such as World of Tanks, World of Warplanes and World of
Warships. On May 15, 2014, KongZhong
officially launched the most-anticipated 3D fantasy MMORPG Guild
Wars 2 in China. KongZhong has the
exclusive publishing rights for World of Tanks, World of Warplanes
and World of Warships, Guild Wars 2, Auto Club Revolution,
Blitzkrieg 3 and other titles in mainland China.
KongZhong entered the smartphone game industry in 2011
through an acquisition of smartphone game engine and has expanded
its mobile game development team across four cities across
mainland China. KongZhong offers popular mobile games
in China and overseas with over 10
smartphone games across various genres being under development,
including RPG, RTS, military, fantasy and etc. For more
information, please visit http://ir.kongzhong.com.
Safe Harbor Statements
This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements include, without
limitation, statements regarding trends in the wireless value-added
services, wireless media, mobile games and online games industries
and our future results of operations, financial condition and
business prospects. Although such statements are based on our own
information and information from other sources we believe to be
reliable, you should not place undue reliance on them. These
statements involve risks and uncertainties, and actual market
trends and our results may differ materially from those expressed
or implied in these forward looking statements for a variety of
reasons. Potential risks and uncertainties include, but are not
limited to, continued competitive pressure in China's wireless value-added services,
wireless media, mobile games and online games industries and the
effect of such pressure on revenues; our ability to develop new
products that are commercially successful; unpredictable changes in
technology, consumer demand and usage preferences in the markets we
operate; our ability to protect our intellectual property rights;
the short operating history of certain of our business segments, in
particular the online games segment; the state of and any change in
our relationship with China's
telecommunications operators; our dependence on the billing systems
of telecommunications operators for our performance; the outcome of
our investment of operating income generated from the WVAS segment
into the development of our wireless Internet, mobile games and
online games segments; changes in the regulations or policies of
the Ministry of Industry and Information Technology and other
government authorities relevant to our businesses; and changes in
political, economic, legal and social conditions in China, including the Chinese government's
policies with respect to economic growth, foreign exchange, foreign
investment and entry by foreign companies into China's telecommunications and online games
markets. For additional discussion of these risks and uncertainties
and other factors, please see the documents we file from time to
time with the Securities and Exchange Commission. We assume no
obligation to update any forward-looking statements, which apply
only as of the date of this press release.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/kongzhong-corporation-signs-agreement-with-wgn-regarding-world-of-tanks-blitz-and-iron-storm-300312865.html
SOURCE KongZhong Corporation