00.com is investing in ordinary shares representing 51.0% of equity interest in each of Qufan Internet Technology Inc. and Shenzhen Qufan Internet Technology Co., Ltd. for an aggregate cash consideration of RMB110.5 million (approximately US$16.0 million).
The consummation of the investment is subject to certain conditions.
500.com will cooperate with Qufan to help develop and promote its mobile social poker games platform.
