Trustar Capital Said to Near Deal for Alibaba’s Gaming Business
Trustar Capital, an Asia-based private equity firm, is nearing a deal to acquire Alibaba Group’s gaming business, according to people familiar with the matter. Trustar has beaten multiple bidders, including other game developers, to become the most likely buyer of Lingxi Games, the people said. They requested anonymity because the information is sensitive. The transaction could value the studio at more than $1.5 billion, they said. Negotiations are still ongoing, and no final decision has been made.
Trustar Capital, an Asia-based private equity firm, is nearing a deal to acquire Alibaba Group’s gaming business, according to people familiar with the matter.
Trustar has beaten multiple bidders, including other game developers, to become the most likely buyer of Lingxi Games, the people said. They requested anonymity because the information is sensitive.
The transaction could value the studio at more than $1.5 billion, they said. Negotiations are still ongoing, and no final decision has been made.
Trustar has beaten multiple bidders, including other game developers, to become the most likely buyer of Lingxi Games, the people said. They requested anonymity because the information is sensitive.
The transaction could value the studio at more than $1.5 billion, they said. Negotiations are still ongoing, and no final decision has been made.