Key facts
- Alibaba Group is selling its game developer unit, Lingxi Games.
- Trustar Capital is the acquiring private equity firm.
- The sale price is over $2 billion.
- The agreement followed several rounds of talks.
- An internal memo confirmed the deal.
- Lingxi's CEO will continue to lead the company post-acquisition.
Alibaba Group has reached an agreement to sell its game developer subsidiary, Lingxi Games, to Trustar Capital, a private equity firm. The transaction is valued at over $2 billion. This deal comes after several rounds of negotiations between the two parties. An internal memo has reportedly confirmed the agreement, signaling a significant step towards the completion of the sale. Lingxi Games' current Chief Executive Officer is slated to continue in their leadership role following the acquisition. The sale marks a notable divestment for Alibaba from its gaming interests, potentially signaling a strategic shift for the e-commerce giant.