DLA Piper team advises MoboTap on investment transaction with Changyou

DLA Piper has advised MoboTap on an investment transaction with Changyou.com for nearly $100m (£60m). The DLA Piper team working on the transaction included senior associate David Xu, Iris Liu and Yiran Peng, all in Beijing.

MoboTap developed the Dolphin browser for the Android and iOS operating systems and was one of the first alternative browsers for the Android platform. Changyou is a developer and operator of online games.

The transaction sees Changyou purchase 51 per cent of MoboTap on a fully diluted basis, and, in return, provide $30m in funding to MoboTap by note financing. The transaction was closed at the end of July.