NetEase, Inc. (NASDAQ: NTES) ("NetEase" or the "Company"), one of China's leading internet and online game services providers, has launched a new video games studio in Montréal, Québec, which is considered to be Canada's premier video game production center. NetEase plans to hire local and international talent for this R&D-focused studio in North America.
"Global expansion is of great importance to the strategic growth of NetEase's online games business. We have made considerable progress in recent years, and our new Montréal games studio is another significant milestone for our global market ambitions," said William Ding, Chief Executive Officer and Director of NetEase. "Known for being a world-leading video game and entertainment content production hub, with rich resources in talent and technologies, Montréal offers clear advantages and favorable conditions to international online games companies such as NetEase. We were warmly welcomed by Montréal International and Investissement Québec, and we are thrilled at this remarkable step which can push us forward on realizing our global objectives."
Montréal International, Greater Montréal's economic promotion agency, has supported the Company with their set-up project. "We cordially welcome the arrival of NetEase, the first major game publisher and developer from China to establish an office here, which confirms Greater Montréal's enviable position as a world leader in the video game industry," stated Hubert Bolduc, President and CEO of Montréal International. "Since 2015, the Québec video game industry has experienced a phenomenal 42% growth in the number of companies establishing roots or expanding here, with the world's largest video games producers successively choosing the city for its creative, vibrant and artistic culture."
Investissement Québec, whose mission is to attract new foreign investment to Québec, has also worked with the Company to make its expansion possible. "We welcome NetEase to set up a studio in Québec. The opening and establishment of the studio speaks volumes about the strength and talent of the local industrial sector, which represents fertile ground for any company wanting to invest here. We are confident that the arrival of this key player in the video game industry will strengthen Montréal's ecosystem and help boost the economy," said Guy LeBlanc, President and CEO of Investissement Québec.
NetEase, Inc. (NASDAQ: NTES) is a leading internet technology company based in China dedicated to providing premium online services centered around content, community, communication and commerce. NetEase develops and operates some of the most popular PC-client and mobile games in China and has been expanding rapidly into other international markets such as Japan and North America in more recent years. In addition to its self-developed game content, NetEase also operates some of the most popular international online games in China by partnering with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers. NetEase also operates Kaola and Yanxuan, two e-commerce platforms that cater to the rising middle-class consumer market in China as well as offering advertising, e-mail and other innovative services including music and online education.
For more information, please visit: http://ir.netease.com/.
Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal and the City of Montréal. Its mandate is to attract and retain foreign investment (companies and startups), international organizations, skilled workers and international students to Greater Montréal by providing support services tailored to their needs.
For more information, please visit: https://www.montrealinternational.com.
Investissement Québec's mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
For more information, please visit: https://www.investquebec.com/quebec/en/.
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbour" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. The accuracy of these statements, including statements regarding NetEase's establishment in Canada, may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including the risks outlined in NetEase's filings with the U.S. Securities and Exchange Commission. NetEase does not undertake any obligation to update this forward-looking information, except as required under applicable law.
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