Unity is looking to bolster its presence in China. It is doing this by partnering with many of the biggest names in Chinese tech to create a billion-dollar joint venture that aims to “unlock new opportunities” in the country.
The company first entered the Chinese market in 2012 providing the engine for Tencent and miHoYo. As part of this new initiative, Unity is looking to partner with other major players including Alibaba, China Mobile, ByteDance’s Douyin Group, Oppo, and more.
“Unity will inject its creation solutions business and game services business in China into the new joint venture, Unity China,” reads a translated statement from Unity posted on the Chinese social media platform WeChat. “The partners participating in the investment will also provide various cross-domain assistance to Unity, including entering new industries with Unity, deepening the application of Unity in the game industry, and providing marketing support for Unity’s products and services. The new joint venture business will not involve Unity Ads, which will continue to be managed by Unity’s global team.”
According to CNN, Unity is expected to have majority control of the China venture. The project will be led by Unity’s general manager for Greater China, Junbo Zhang. The venture is expected to be worth $1 billion following investments from local partners.
(All information was provided by CNN and WeChat)
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