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Unity has moved to set up a joint venture in China valued at $1 billion.
That’s according to Reuters, which reported that the software company signed a cooperation agreement on Tuesday.
The firm has partnered with Alibaba Group, China Mobile Ltd, Oppo and Bytedance’s Douyin (China’s version of TikTok), but Unity will remain in control of the new outfit.
Last week, Reuters reported that Unity had plans to create a separate unit in China in order to strengthen its operations in the country.
Part of that plan involved giving the independent business more local ownership and autonomy, as well as bolstering the user base for Unity’s development software in China.
Unity China chief executive Zhang Junbo also added that the firm is looking to expand its offices in Shanghai, Beijing and Guangzhou with the addition of over 1,000 engineers in the next few years.