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WirelessDevNet.com Press Release
TOM Online Announces Indiagames Acquisition Completed
BEIJING, Feb. 24 - TOM Online Inc. (Nasdaq: TOMO;
Hong Kong GEM: 8282), a leading wireless Internet company in China, is pleased
to announce the sale completion of Indiagames took place on 24 February, 2005.
As a result, TOM Online Games, a wholly-owned subsidiary of TOM Online Inc.,
has successfully acquired approximately 76.29% of the issued and paid-up share
capital of Indiagames as at the sale completion. Indiagames becomes a non
wholly-owned subsidiary of TOM Online.
According to the Sale and Subscription Agreement dated December 17, 2004,
the subscription completion was to take place on or before 28 February 2005.
But as extra time is required for completing the process of the subscription,
issue and allotment of the subscription shares in India, TOM Online announces
that the parties to the Sale and Subscription Agreement have agreed that the
subscription completion will be deferred and will take place on or before 31
March 2005.
Further announcement will be made should the subscription completion not
take place on or before 31 March 2005 or should there be any further changes
to the date of subscription completion.
About TOM Online Inc.
TOM Online Inc. (Nasdaq: TOMO; HK GEM stock code: 8282) is a leading
wireless Internet company in China providing value-added multimedia products
and services. A premier online brand in China targeting the young and trendy
demographic, the company's primary business activities include wireless
Internet services, online advertising and commercial enterprise solutions.
The company offers an array of services such as SMS, MMS, WAP, wireless
interactive voice response services, content channels, search and classified
information, free and fee-based advanced email and online games. As at
September 30, 2004, TOM Online is the only portal in China that enjoyed a top
three ranking in every wireless Internet service segment.
TOM Online is a subsidiary of TOM Group Limited ("TOM Group"), one of the
leading Chinese language media groups in the Greater China region. TOM Group's
diverse operations span five media sectors: the Internet (through TOM Online
Inc.), outdoor (through TOM Outdoor Media Group), publishing, sports and TV &
entertainment.
About Indiagames
Indiagames was founded by Vishal Gondal, the current CEO, in 1999 and has
quickly become one of the global leaders in mobile games publishing business.
With over 160 professionals based in Mumbai, Indiagames is primarily engaged
in publishing and developing games across various platforms like Internet, PC,
broadband, mobile phones, PDAs, handheld gaming devices and consoles.
Indiagames also has a leading edge in wireless games in various formats like
Java(TM), BREW(TM), I-Mode(TM), Flash Lite(TM) and Symbian(TM). As the No.1
gaming developer and publisher in India, Indiagames controls a 60% share in
India's game-related wireless value-added services market.
Indiagames was the first to launch mobile games in India in Feb 2003. It
has established partnerships with all major mobile operators in India and over
100 channel partners globally. Major global distribution channels include
Vodafone, O2, T-Mobile, Orange, Verizon, Sprint, Singtel, Airtel, Tata, China
Mobile, Optus, Hutch, Amena, Telefonica, O2, Wind and AT&T. Although it is
based in India, 86% of its sales this year came from Europe, Asia Pacific,
United States, Middle East and South Africa.
Indiagames is among the first to obtain branded licenses for mobile
products with the launch of one of its best selling mobile game Spider-Man(TM)
Classic in 2003. In the past 12 months Indiagames has licensed several key
brands like Bruce Lee(TM), Predator(TM), Buffy The Vampire Slayer(TM), The
Mummy(TM), Scorpion King(TM), Jurassic Park(TM) 1, Jurassic Park(TM) 2,
Jurassic Park(TM) 3, Garfield(TM), The Day After Tomorrow(TM), Spy Kids(TM),
Indian Idol, Singapore Idol, Malaysian Idol, Indonesian Idol and Phantom(TM),
to name a few.
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