Internet and online gaming company NetEase acquired a minority stake in US-based video game developer Bungie on Friday for a reported $100m.
Founded in 1991, Bungie has created two multi-billion-dollar gaming franchises – Halo and Destiny.
The company was acquired by software developer Microsoft in 2000 but was spun out in 2007 to become an employee-owned business, though Microsoft retained a minority stake as part of the deal.
NetEase’s investment will go towards the creation of additional products, recruitment and support of Bungie’s global, multi-franchise ambitions.
William Ding, chief executive and director of NetEase, said: “We have been big fans of the worlds Bungie has created, and are drawn to Bungie’s passion and creativity in online games development.
“Bungie and NetEase share the same vision and ambition to deliver incredible experiences to millions of players all around the globe.
“We are excited to partner with Bungie as they transform from a single franchise development team into a global, multi-franchise entertainment studio.”