July 10, 2012 by Stephanie SUTANTO
Linktone, a Chinese media and entertainment provider, has recently acquired Okezone.com, a Bahasa Indonesian online portal targeted at delivering news, entertainment, and video content. Linktone bought Okezone’s shares from PT. Media Nusantara Citra Tbk (“MNC”), Okezone’s majority shareholder.
Okezone has become one of Indonesia’s three most popular news and entertainment site and has a growing base in overseas markets, most notably in the pan-Asian markets including Malaysia, Singapore and Japan. Additionally, Linktone has made plans to relocate its principal office from Shanghai, China to Singapore, a strategic move to further reinforce its aim of focusing on the Asian markets.
According to Mr. Hary Tanoesoedibjo, Executive Chairman and Chief Executive Officer of Linktone,
“These recent changes to our business are in line with our efforts to transform Linktone from a China-focused provider of mobile value-added services into a multi-platform media distributor serving the entire pan-Asian region.”
With this acquisition, Linktone hopes to expand its service and product offerings in these targeted overseas markets to promote and further its growth.