US Developer Unity Software Inc., whose software is used in video games like Tencent Holdings’ Honor of Kings, said Tuesday that it has struck a deal with several partners to form a joint venture valued at $1 billion (about $7,900). crores) is. , from your China business.
The announcement follows an exclusive report from Reuters last week that Unity was in talks to shut down its China unit to help it expand into the world’s largest games market.
The partners in the joint venture include AlibabaChina Mobile, OppositionByteDance doyinPCI technology and G-bits network technology Xiamen, Unity said in a statement on his officer WeChat account.
Unity said the company will retain majority ownership and control of the Chinese joint venture.
The JV, named Unity China, will soon begin manufacturing local custom versions of its core products for game developers and will become the exclusive distributor of Unity’s products and services in China, according to the statement.
Unity entered China in 2012 and its namesake software, known as the game engine, powers many of the country’s most popular games, including miHoYo’s. jenshin effect,
Last week, Reuters informed of That Unity was in talks to shut down its China unit to help it expand into the world’s largest sports market.
The talks came as strained Sino-US relations raised sensitivity over technology transfer and data management across borders, prompting tech firms to re-evaluate their operations in China.
Also, game-making software is developed with new technologies such as the so-called . There is growing interest in expanding to metaverseAn immersive three-dimensional Internet.
Unity entered China in 2012 and its namesake software, known as the game engine, powers many of the country’s most popular games such as honor of kings from gaming leader Tencent, and Jenshin Impact. Rivals include Tencent-backed epic gamesAmerican developer of the increasingly popular Unreal Engine 5.
© Thomson Reuters 2022