(Yicai Global) Aug. 10 -- Unity Software, a US video games engine developer, said it has joined hands with Alibaba Group Holding, China Mobile, and other partners to set up a Chinese joint venture valued at USD1 billion.

Unity China will build local customized versions of the software vendor’s core products for game developers, including a Chinese version of its flagship Unity Editor, the San Francisco-based firm said yesterday. The JV will also be the exclusive distributor of Unity's global products and services in China.

Other partners in Unity China include game developer miHoYo, smartphone maker Oppo, and ByteDance’s Douyin Group, which runs TikTok’s sister app in China.

The Chinese companies will provide a variety of inter-disciplinary assistance, including working with Unity to enter new industries, deepening Unity's applications in the gaming industry, and providing marketing support for Unity's products and services.

Unity will be the controlling shareholder of the JV, which will be overseen by a board of directors comprised of Unity executives and representatives from key investors. Zhang Junbo, general manager of Unity’s China business, will be the JV’s president and chief executive.

Unity China’s business will not encompass Unity Ads, the mobile advertising network for iOS and Android games, which will continue to be managed by Unity's global team.

Editors: Shi Yi, Futura Costaglione