BEIJING, Dec. 17 /PRNewswire-Asia/ -- Perfect World Co., Ltd. (Nasdaq: PWRD) ("Perfect World" or the "Company"), a leading online game developer and operator in China, announced in October 2008 that it entered into an agreement with Global InterServ (B.V.I.) Inc. ("InterServ") regarding the acquisition of an online game named Meteor Online, an exclusive license of the sales and publishing rights to an online game developed based on the famous book XiaoAoJiangHu authored by Louis Cha, and a license to use InterServ's cross-platform game development engine. In addition, the Company announced earlier this month that it entered into another agreement with InterServ to acquire its subsidiaries in China with established game development capabilities. The Company is pleased to report that it plans to leverage these strategic initiatives by utilizing InterServ's game development engine and resources as soon as possible. Upon further analysis of the first acquisition relating to the game engine and the two games, the Company anticipates that a substantial portion of the US$15,000,000 purchase price for this acquisition is attributable to in-process research and development, based upon certain recognized valuation principles. In accordance with the U.S. GAAP, the Company may need to recognize a one-time non-recurring expense for the value of such in-process research and development as of the date of acquisition during the fourth quarter of 2008. The Company will continue to assess the accounting impact of the acquisition and will provide an update to investors if there is any further significant development.
About Perfect World Co., Ltd. ( http://www.pwrd.com )
Perfect World Co., Ltd. (Nasdaq: PWRD) is a leading online game developer and operator in China. Perfect World primarily develops three-dimensional ("3D") online games based on the proprietary Angelica 3D game engine and game development platform. The Company's strong technology and creative game design capabilities, combined with extensive local knowledge and experience, enable it to frequently and rapidly introduce popular games that are designed to cater to changing customer preferences and market trends in China. The Company's current portfolio of self-developed online games includes 3D massively multiplayer online role playing games ("MMORPGs"): "Perfect World," "Legend of Martial Arts," "Perfect World II," "Zhu Xian," "Chi Bi" and "Pocketpet Journey West;" and a 3D online casual game: "Hot Dance Party." While a substantial portion of the revenues are generated in China, the Company's games have been licensed to leading game operators in a number of countries and regions in Asia, Europe and South America. The Company also generates revenues from game operation in North America. The Company plans to continue to explore new and innovative business models and remains deeply committed to maximizing shareholder value over time.
Safe Harbor Statements
This press release contains forward-looking statements. These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "future," "plans," "believes" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, our limited operating history, our ability to protect our intellectual property rights, our ability to respond to competitive pressure, changes of the regulatory environment in China, and economic slowdown in China and/or elsewhere. Further information regarding these and other risks is included in Perfect World's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Perfect World does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact:
Perfect World Co., Ltd.
Vivien Wang
Investor Relations Officer
Tel: +86-10-5885-1813
Fax: +86-10-5885-6899
Email: ir@pwrd.com
http://www.pwrd.com
Christensen Investor Relations
Kathy Li
Tel: +1-480-614-3036
Fax: +1-480-614-3033
Email: kli@christensenir.com
Roger Hu
Tel: +852-2117-0861
Fax: +852-2117-0869
Email: rhu@christensenir.com
