Trustar Capital has reached an agreement to acquire Lingxi Games, the video game division of Alibaba Group, according to KrASIA. The acquisition signals Trustar’s growing interest in expanding its footprint in the gaming industry.
Bloomberg reported that the deal could value Lingxi Games at more than USD 1.5 billion, surpassing earlier estimates. On June 23, several media outlets cited Alibaba’s intention to sell the studio for between RMB 7 billion and 9 billion, roughly USD 1.0 to 1.3 billion, indicating strong market demand for the gaming asset.
This acquisition highlights ongoing shifts in the Asian gaming market, which remains a key focus for investors and companies seeking growth opportunities, including in Japan’s vibrant gaming and tech sectors.