Pacific Century takes 55% stake in Jaleco

Pacific Century CyberWorks, a major Hong Kong Internet company, said Wednesday it acquired a controlling stake of 55 percent in Japanese game-software developer Jaleco after the firm issued new shares via third-party allocation.

Following the takeover, PCCW will change the name of Jaleco to Pacific Century CyberWorks Japan Co. The company will play a key role in PCCW's expansion of its information services business in Japan, it said.

The new shares were also allocated to Dentsu Inc., Orix Corp. and Pia Corp., which will form a strategic alliance with PCCW.

PCCWJ plans to conduct the second round of third-party share allocation in November, raising PCCW's stake in the company to about 83 percent, it said.