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The9 Limited Announces the Joint Venture with Qihoo 360 Obtained the Publishing and Operating License of Firefall in China
SHANGHAI, Aug. 29, 2014 /PRNewswire-FirstCall/ -- The9 Limited (NASDAQ: NCTY) ("The9"), an online game developer and operator, announced that Red 5 Singapore Pte. Ltd. ("Red 5 Singapore"), a subsidiary of The9, has entered into a license agreement with System Link Limited for publishing and operating Firefall for a five-year term in mainland China. Under this license agreement, System Link Limited will pay to Red 5 Singapore at least US$160 million including license fee and royalties during the contract period. Firefall is a MMO shooter game developed by Red 5 Studios, Inc., a subsidiary of The9. System Link Limited is a joint venture formed by The9 and Qihoo 360 Technology Co., Ltd.
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.
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