SHANGHAI, July 21, 2016 /PRNewswire/ -- On July 7, 2016, 37 Interactive Entertainment announced that it will invest 10 million RMB to acquire a 15% stake in TianShe (Shanghai) Culture & Media Co., Ltd., and will appoint one new director to its board. The acquisition is another step for 37 Interactive Entertainment towards the VR gaming market after an earlier investment in Archiact, a Canadian VR game studio.
The acquisition will result in a shared IP base of the two companies. Tianshe Culture & Media will give 37 Interactive Entertainment and its affiliates preference in product licensing. 37 Interactive Entertainment, in return, will offer its most popular browser and mobile games, as well as film and animation IPs to support Tianshe Culture & Media.
37 Interactive Entertainment has been deploying in VR markets both domestically and internationally. In March, 2016, it invested in Archiact, a Canadian VR game studio that is developing rapidly in the international market. TianShe Culture, on the other hand, is a well-established domestic VR service provider that is very familiar with the Chinese gaming market. Both companies have their different strengths, and will contribute to the emerging entertainment empire that 37 Interactive Entertainment is building.
Tianshe Culture & Media: A Pioneering Domestic VR Content Provider
Tianshe Culture & Media is a leading Chinese VR content developer and service provider, experienced in hardcore VR games development, VR theme park solutions and VR fan community management. The company combined its VR technology with its real-life escape room park, L's Room, which has been in operation for two years, and developed its first multi-player real-life VR puzzle game, the Weeping Doll. The Weeping Doll is based on Unreal Engine 4, applicable for VR devices such as the Oculus Rift, HTC Vive and PlayStationVR. It will be launched in the Oculus Store, Steam, PS Store as well as Google Play in the near future.
37 Interactive Entertainment's Strategies in the Global VR Market
The VR market has been met with dramatic development in the hardware aspect, while the supporting software market has been relatively slow in growth. Therefore, 37 Interactive Entertainment has seized this opportunity and decided to focus on VR content development. Investing in Archiact and Tianshe Culture & Media, 37 Interactive Entertainment enjoys the unique position of being involved in both the casual and hardcore end of the VR gaming market.
"The two developers both have their own advantages. One is a casual game expert familiar with the international market, while the other is a veteran in hardcore VR games that is well experienced in the domestic Chinese market. The two companies will facilitate each other in market expansion and game development, while 37 Interactive Entertainment will provide capital and resource support. As a result, we'll see more quality VR products in the market place very soon," said Li Yi Fei, 37 Interactive Entertainment co-founder and President.
In the future, 37 Interactive Entertainment will go beyond just VR game development and gradually expand into other VR related areas ranging from VR SNS, VR applications, VR movies, and other VR interactive entertainment solutions.
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SOURCE 37 Interactive Entertainment