BEIJING (Reuters) – Unity Software Inc, the U.S. developer best known for software used to design video games, said on Tuesday it has signed a cooperation agreement to set up a joint venture valued at $1 billion in China.
Partners including Alibaba Group Holding Ltd, China Mobile Ltd, Oppo and Bytedance’s Douyin Group, Unity said on its Wechat account.
The company will retain the majority ownership and control of the Chinese JV, Unity said.
(Reporting by Brenda Goh in Shanghai, Twinnie Siu in Hong Kong and Ella Cao in Beijing; Editing by David Evans)
