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Acquisitions | 12 Months Ended
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Dec. 31, 2024
Acquisitions |
Acquisitions |
25. | Acquisitions
There was no acquisition occurred for the years ended December 2023 and 2024. Our acquisitions in the prior periods are listed below. Transaction with one game development company (“Game Business”) In February 2022, the Company signed an agreement to acquire all of the equity interests in Game Business with a total cash consideration of RMB800.0 million. Upon the completion of this transaction, the Group held 100% of equity interests in the Game Business, which became a consolidated subsidiary of the Group. The consideration of acquisition of Game Business was allocated based on their fair value of the assets acquired and the liabilities assumed as follows:
|  | Amount |  |  | Amortization Period |
|  | RMB in thousands |  |  |  |
Net assets acquired |  |  | 333,830 |  |  |  |  |
Intangible assets |  |  |  |  |  |  |  |
—Non-compete clause |  |  | 111,000 |  |  |  | 6 years |
—Others |  |  | 50,965 |  |  |  | 5 years |
Deferred tax liabilities |  |  | (40,491 | ) |  |  |  |
Goodwill |  |  | 344,696 |  |  |  |  |
Total |  |  | 800,000 |  |  |  |  |
Total purchase price comprised of:
|  | Amount |  |  |
|  | RMB in thousands |
Cash consideration |  |  | 800,000 |
Goodwill arising from this acquisition was attributable to the Group’s strategy to expand its self-developed capacity in game development. Other acquisitions For the years ended with December 31, 2022, the Group completed several other acquisitions, to complement its existing business and achieve synergies. The acquired entities individually and in aggregate were not significant. The Group’s other acquisitions are summarized in the following table:
|  | For the Year Ended December 31, |  |  | Amortization Period |
|  | 2022 |  |  |  |
|  | Amount |  |  |  |
|  | RMB in thousands |  |  |  |
Net assets acquired |  |  | 85,369 |  |  |  |  |
Intangible assets |  |  |  |  |  |  |  |
—Brand |  |  | — |  |  |  | 5 years |
—Customer relationship |  |  | — |  |  |  | 5 years |
—Non-compete clause |  |  | 9,000 |  |  |  | 6 years |
—Others |  |  | 61,000 |  |  |  | 1 to 10 years |
Deferred tax liabilities |  |  | (17,500 | ) |  |  |  |
Goodwill |  |  | 42,131 |  |  |  |  |
Total |  |  | 180,000 |  |  |  |  |
Total purchase price comprised of:
|  | For the Year Ended December 31, |  |  |
|  | 2022 |
|  | Amount |
|  | RMB in thousands |
Cash consideration |  |  | 150,000 |
Share consideration |  |  | — |
Fair value of previously held equity interests |  |  | 30,000 |
Total |  |  | 180,000 |
Pro forma results of operations for all the acquisitions have not been presented because they were not material to the consolidated statements of operations and comprehensive loss for the years ended December 31, 2022, 2023 and 2024 individually or in aggregate.

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