Alibaba to Sell Gaming Business for $1.5B in Deal with Trustar Capital
Photo: TechNode
Quick answer
Alibaba is finalizing a deal to sell its gaming unit Lingxi Games to Trustar Capital for over $1.5 billion. The transaction, though not yet completed, is close to finalization.
Chinese tech giant Alibaba is in the final stages of negotiations to sell its gaming subsidiary Lingxi Games. The potential buyer is private equity firm Trustar Capital, with the deal value expected to exceed $1.5 billion.
Lingxi Games, formerly known as Alibaba Interactive Entertainment, specializes in developing and publishing mobile games. Its portfolio includes the strategy game Three Kingdoms Tactics. Additionally, the company provides game distribution and user engagement services, positioning it as a key player in China’s mobile gaming market.
Negotiations remain ongoing, and final terms may still change. If finalized, this would rank among China’s largest gaming industry deals in recent years. For Alibaba, the sale could signal a strategic shift toward cloud computing and artificial intelligence.
Common questions
- What is Lingxi Games?
- Lingxi Games is Alibaba's gaming subsidiary focused on developing and publishing mobile games, as well as providing distribution services for developers and players.
- Who is buying Lingxi Games?
- The buyer is Trustar Capital, a private investment firm specializing in technology and entertainment sector deals.
- Why is Alibaba selling its gaming business?
- Alibaba has not disclosed reasons, but such moves often align with business optimization, refocusing on core areas, or raising capital for other initiatives.
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