DLA Piper has advised MoboTap Inc. ("Mobo Tap"), a Cayman Islands company and the Chinese developer of the Dolphin Browser, on an investment transaction with Changyou.com Ltd. ("Changyou"), a leading developer and operator of online games, for nearly US$ 100 million.

MoboTap developed the popular Dolphin Browser, designed for the Android operating system and iOS, and was one of the first alternative browsers for the Android platform. Changyou is an important investor in the online sector in China and now operates some of the most popular online games in China.

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

David Xu, Senior Associate at DLA Piper in Beijing said: "This was a great deal for our client MoboTap, and will enable the company to grow further with the investment from Changyou. The internet browser and online gaming market in China is set to see further advancement and MoboTap are well positioned for this."

The DLA Piper team working on this transaction included David Xu (Beijing), Iris Liu (Beijing) and Yiran Peng (Beijing).