BEIJING, Oct. 28, 2009 (Xinhua News Agency) -- Sohu. (NASDAQ:SOHU) com (SOHU.NASDAQ), an online operator in China, has signed a distribution agreement with Pay88 Inc. (OTCBB:PAYI) through the latter's subsidiary, Qianbao Technology.
Based on the agreement, Pay88 will be able to distribute Sohu's digital products, mainly mobile phone games. Pay88 is a digital technology company and a reseller of internet game time with a sales network covering more than 20 Chinese cities. Further, the cooperation is expected to help Pay88 expand its distribution networks.
In 2008 it was able to record 19.7 million US dollars in revenues.
In the quarter ended September 30, 2009, Sohu realized total revenue of 136.6 million dollars, up 13 percent year on year. This included a record high 68.7 million dollars from online games, representing a 26 percent year on year increase, thanks to the growing popularity of the flagship game, Tian Long Ba Bu, according to the company's financial report released on Monday.
