Reports have confirmed that Chinese online game developer, Shanda Games Ltd. is all set to take over the American online game network, Mochi Media, in a deal which will cost the former $80 Million and allow it to take a step further in its aim to expand globally.

As per terms of the deal, which the companies are expected to officially announce on Tuesday, privately held Mochi, a San Francisco based firm, will be receiving $60 Million in cash and $20 Million in Shanda shares.

As shared by Shanda Games Chief Executive Diana Li, the acquisition of Mochi would help the Chinese firm extend its reach from advanced games for more serious gamers to a huge, rapidly growing world-wide base of players who like to indulge in more casual games.

"There is data showing [that] in the next five years the market for community-based lightweight games will become $15 billion. We've had our eyes on the international market … access to Mochi's platform will speed up and scale up our distribution of [content] world-wide", Ms. Li said.

After the acquisition, Mochi will continue to operate as a stand-alone firm, and co-founder and CEO Jameson Hsu will stay on.