Parties
Company
NetEase, Inc.
Company
SkyBox Labs Inc.
On January 7, 2023, NetEase Inc. (9999.HK) announced on Friday that it had acquired Canadian gaming studio SkyBox Labs, known for co-developing popular games like Halo Infinite and Minecraft. Although the transaction value was not disclosed, this acquisition aligns with NetEase's aggressive global expansion strategy. Founded in 2011, SkyBox Labs has over 250 employees and has also contributed to Fallout 76 and Age of Empires: Definitive Edition.
This move follows NetEase's acquisition of French gaming studio Quantic Dream in August and is part of its broader strategy to expand internationally amidst tighter regulations in China's gaming market. The expansion has included the launch of several studios worldwide, such as Nagoshi Studio in Japan and Jackalope Games and Jar of Sparks in the U.S.
SkyBox Labs, which develops games for Microsoft (MSFT.O), will continue to operate independently under NetEase Games, led by its three co-founders. The studio plans to grow, retain staff, and hire new employees in Canada. NetEase's founder William Ding previously stated the goal of increasing the company's overseas gaming revenue from over 10% to nearly 50%.
Deal Type
Merger & AcquisitionIndustry
Tech/Computer/ITTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
06 January 2023