Zhang disclosed Unity's China expansion ambition last month to local tech media outlet 36Kr without mentioning a spin-off, saying Unity was exploring ways to make its technology "safe and controllable" within China - a reference to the government's mandate for important technology to be controlled domestically. tech stocks, and by a product missing performance expectations, they said. Progress has been further slowed by Unity's share price sinking 80% since its November 2021 high amid weakness in U.S. Unity China Chief Executive Zhang Junbo has been working on the plan for at least a year, two of the people said. The spin-off would be one of China's bigger technology deals this year as investment activity has slowed due to weak economic growth, COVID-19 outbreaks and regulatory tightening. With China tightening data handling regulation, Unity believes a spin-off would aid this expansion as it would give the unit more local ownership and autonomy over how it operates in the country, which could also increase its attraction to local government and state-owned partners, the people said. Potential investors Unity has been speaking to have made big bets on the metaverse, they said. Unity's spin-off plan is being driven by a desire to see its software used more extensively in China in areas as varied as smart city modelling to industrial design, as well as in the metaverse, two of the people said. developer of the increasingly popular Unreal Engine 5. Rivals include Tencent-backed Epic Games, the U.S. Unity entered China in 2012 and its eponymous software, known as a game engine, powers many of the country's most popular games such as "Honor of Kings" from gaming leader Tencent Holdings Ltd (0700.HK) and miHoYo's "Genshin Impact". At the same time, there is growing interest in expanding game-making software to new technologies such as the so-called metaverse, an immersive three-dimensional internet. relations exacerbate sensitivities over technology transfer and data handling across borders, prompting tech firms to reappraise their operations in China. Its share price closed up over 5% on the news on Tuesday. San Francisco-based Unity has sought strategic investors to join it in a business valued at over $1 billion during talks, said two of the people, declining to be identified as they were not authorised to speak publicly on the matter. developer best known for software used to design video games, is in talks to spin off its China unit to help it expand in the world's biggest games market, four people with knowledge of the matter told Reuters. HONG KONG, Aug 3 (Reuters) - Unity Software Inc (U.N), the U.S.
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