Wanda Cinema, the largest cinema operator in China has announced the acquisition of Mtime, buying out all other shareholders, including Eight Roads Ventures China, for $280 million.

Founded in 2005 and initially modelled on IMDB, Mtime is the largest movie content and service platform in China with core businesses including a movie database, online ticketing and merchandising. Spotting Mtime's unique and leading online market position in China's nascent but fast-growing movie industry, ERVC became a series B investor in 2013.    

Mtime's substantial online user base and strong online operating model will complement Wanda Cinema's massive offline presence. After the acquisition, Wanda Cinema has promised to work with Mtime's management team to further develop a multi-channel distribution network of licensed movie merchandise and digital content.