China’s Leading Gaming Company NetEase Snaps Canadian Gaming Studio SkyBox Labs

• NetEase, Inc (NASDAQ: NTES) scooped Canadian gaming studio SkyBox LabsIt co-developed many important games, including Halo Infinite.

• The financial terms of this transaction were not disclosed.

• SkyBox labs are now independent of NetEase. CNBC is China’s second-largest gaming company. reports.

• Also read: Activision Explored Offering World of Warcraft in China After Recently Dumping NetEase Partnership

• NetEase has intensified its international expansion in gaming over these past two years to counter China’s slowdown. amid regulatory crackdown.

• NetEase bought Quantic Dream, a French developer of games, in 2022. It was the first European studio to be wholly owned by NetEase.

• NetEase also has gaming studios in Japan, the U.S. and Canada.

• NetEase invests in and acquires companies that have experience with solid brands and franchises.

• SkyBox Labs worked with gaming companies including Microsoft Corp (NASDAQ: MSFT) Xbox Game Studios, and Electronic Arts Inc (NASDAQ: EA).

• SkyBox Labs currently co-developed Halo Infinite. They also work on Minecraft projects.

• NetEase stated that it will provide support to SkyBox Labs with resources and execution capabilities, so SkyBox Labs can achieve greater scale while still maintaining the high quality work SkyBox Labs is known for.”

• NetEase was a mobile and PC-focused company, but the company is now aiming to be a prominent player in consoles (one of SkyBox Labs’ fortes).

• NetEase has $13.3 billion of cash and equivalents as of September 30.

• Price Action NTES shares traded higher at $82.70 by 0.78% on Friday, according to the latest check.

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