Guangdong Alpha buys VC-backed China comics site U17
Guangdong Alpha Animation and Culture, a Chinese animation and entertainment firm, has agreed to acquire online comics platform U17.com for RMB904 million ($141 million), paving an exit for several VC backers including Northern Light Venture Capital (NLVC).
The merger is being called the largest acquisition in Chinese animation history. Shenzhen-listed Alpha said in a filing that the firm will acquire 100% of U17.com in a cash and stock deal. China Culture...
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