SHANGHAI, July 31, 2014 /PRNewswire-FirstCall/ -- The9
Limited (NASDAQ: NCTY) ("The9"), an online game developer and
operator, announced that The9 and Qihoo 360 Technology Co., Ltd.
("Qihoo 360") had entered into an agreement today to form a joint
venture. Pursuant to the joint venture agreement, The9 and Qihoo
360 will each own 50% equity interest in the joint venture and
share profits according to this ratio.
The9 and Qihoo 360 agreed that the joint venture will publish
and operate Firefall®, a MMO Shooter game developed by Red 5
Studios, Inc., a subsidiary of The9, for a three-year term in
China and may be renewed for
additional two years upon satisfaction of certain conditions. The
license and distribution agreement will be signed separately
between the joint venture and the developer.
About The9 Limited
The9 Limited is an online game developer and operator. The9
develops and operates, directly or through its affiliates, its
proprietary MMO, web and mobile games including Firefall®
and NBA web and mobile games. In 2010, The9 established its
Wireless Business Unit to focus on mobile internet business
including mobile reading platform KingReader and mobile advertising
platform Juzi . In 2013, The9 formed a joint venture with Shanghai
ZTE to develop and operate home entertainment set top box
business.
For further information, please contact:
Ms. Phyllis Sai
Manager, Investor Relations
The9 Limited
Tel: +86 (21) 5172-9990
Email: IR@corp.the9.com
Website: http://www.corp.the9.com/
SOURCE The9 Limited