NetEase Buys Stake in Bungie to Develop New Projects
One of China's leading internet and online game services providers, NetEase buys minority stake in employee-owned studio to develop new games.
NetEase Inc. (Nasdaq: NTES), one of China's leading internet and online game services providers, and Bungie Inc., an independent employee-owned studio, today announced that NetEase has acquired a minority stake in Bungie to support the incubation of new creative gameplay and accelerate Bungie's vision of becoming a global, multi-franchise entertainment company. Bungie will continue to operate independently with its employee-owned corporate structure.
"We have been big fans of the worlds Bungie has created, and are drawn to Bungie's passion and creativity in online games development," said NetEase CEO and Director, William Ding. "Bungie and NetEase share the same vision and ambition to deliver incredible experiences to millions of players all around the globe. We are excited to partner with Bungie as they transform from a single franchise development team into a global, multi-franchise entertainment studio."
NetEase is one of the world's largest incubators of quality content, dedicated to helping the growth of innovative studios around the globe, and it has grown its international presence along the way. In China, NetEase has captured the largest portion of the country's premium gamer segment. With this partnership, NetEase will help fuel the creativity of the Bungie team as they explore new directions, create new worlds and bring their newest ambitions to life.
"This new partnership will enable us to accelerate our global vision, while building new teams dedicated to delivering brand-new experiences," said Bungie CEO, Pete Parsons. "NetEase creates and operates some of the most popular games on the planet. We're excited for them to bring their experience as we enter this new chapter in Bungie's history. With NetEase's industry expertise and international reach, our partnership will help us realize our shared goal of reaching players around the globe."
Through its existing partnership with Activision, Bungie will continue to develop and expand the Destiny franchise and support its passionate community. In addition, under the stewardship of Chief Creative Officer and Bungie Founder Jason Jones, Bungie will begin the creation of new worlds. Bungie has created two multi-billion-dollar franchises (Halo and Destiny) and introduced numerous innovations to the gaming industry over the course of its 27-year history.
NetEase develops and operates some of China's most popular PC-client and mobile games, advertising services, e-mail services and e-commerce platforms.