Shanghai – The9 (NASD: NCTY), a developer and operator of multiplayer
online games in China,
announced on Monday that it has acquired a majority stake in U.S.-based
developer Red 5 Studios for $20 million.
Founded in 2006 by former Blizzard
Entertainment executives, Red 5 Studios has yet to release any titles but has
reportedly been at work on a first-person shooter online multiplayer game.
developer, which maintains studios in Irvine, Calif. and Shanghai,
laid off an undisclosed number of staff recently.
The9 operates online games including
"FIFA Online," "Atlantica" and "Soul of the Ultimate
Nation" in China.