November 29, 2016 / 1:15 PM / a year ago

BRIEF-Kongzhong corp signs a memorandum of understanding with Wargaming

Nov 29 (Reuters) - Kongzhong Corp :

* Kongzhong corp - signs a memorandum of understanding with wargaming

* Kongzhong-To be relieved from obligations to make additional payments to wargaming when monthly gross revenue of “world of tanks” exceeds specified target

* Kongzhong- co,wargaming shall be relieved from certain non-competition obligations under various license agreements between company and wargaming

* Kongzhong- strategic partnership agreement between co, wargaming, granting co right of first refusal to future wargaming games in china, to be terminated

* Kongzhong corp - pursuant to the mou, the company shall assign its rights and titles in trademarks to wargaming

* Kongzhong- wargaming to grant co, royalty-free, irrevocable non-terminable license to use trademarks in connection with games, collateral merchandise Source text Further company coverage:

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