Unity Technologies, the US game software developer, is setting up a joint venture in China to expand its presence in the world’s largest gaming market.
The venture will be called Unity Technologies (Shanghai) Co Ltd. and will be set up with an investment of $200 million. It will focus on developing games for Smart Phones and tablets as well as cloud-based gaming services.
This is not the first time Unity has ventured into China. It already has a sales office there but this new joint venture is its first formal entry into the country’s gaming industry.
The announcement follows an exclusive Reuters report last week that Unity was in talks to spin off its China unit to help it comply with Beijing’s new cybersecurity law.
Unity Technologies, a U.S.-based gaming software maker, said on Friday it had agreed to sell a majority stake in its China unit to a Chinese company and had signed an agreement with the government of Beijing’s Chaoyang district.
The joint venture is a partnership between some of China’s most influential tech companies to create a new ecosystem for content production and distribution. The joint venture will be led by Alibaba Group Holding Ltd, China Mobile Ltd, OPPO, ByteDance’s Douyin Group, and PCI Techn.
The goal is to create a more diverse content ecosystem that will allow creators to make money from their work. The joint venture will also help with copyright protection and piracy prevention.
The JV, named Unity China, will shortly start building local custom versions for the country.
Unity Technologies is a US-based developer of video game engines and development tools. They have partnered with Beijing-based Shanda Games to establish a joint venture in China. The JV will soon start building custom versions of their video game engine for the Chinese market.
Unity Technologies is a cloud-based game development platform that allows developers to create high-quality games and deploy them to multiple platforms. They have over two million registered developers, and their products are used in more than 150 countries.
In China, Unity will become the exclusive distributor of its products and services in China. The company has partnered with Tencent to bring Unity’s technology and expertise to the Chinese market.
Unity Technologies is a global leader in 3D development, providing both free and paid services across multiple platforms. Founded in 2004, they have over 2 million registered developers worldwide who use their tools to create interactive 3D content used across a wide range of industries including architecture, engineering, construction (AEC), automotive design, film production, education, healthcare and more.
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