The tech world is undergoing rapid change, and is channelling its vast resources into the development of cloud services and AI data centres. A clear example of this is now provided by the Chinese giant Alibaba, which in the West is best known as the owner of AliExpress.
Alibaba is a giant specialising in e-commerce services, but its investments span many more digital businesses, including, until now, video games. However, Alibaba has decided to divest itself of this investment.
According to a Reuters report, Alibaba has reached an agreement with the private investment group Trustar to sell its video game development division, Linxi Games, in its entirety for an estimated total of $2.00 billion.
This has also been communicated to the company's staff, although both the CEO and the board of directors will remain in their posts, ensuring the continuity of the studio's current operations.
Linxi Games is best known for Three Kingdoms: Strategy Edition, a title in the Romance of the Three Kingdoms and Nobunaga's Ambition series, which is co-developed with the Japanese studio Koei Tecmo, the creator of both franchises.
According to the report, Alibaba had been trying for some time to sell Linxi Games and other non-core assets in order to focus its business on key areas such as cloud computing and AI development, an example of the current 'gold rush' surrounding this new technology that is gaining momentum in China.