Today, Ubitus, a leading cloud gaming service provider, announced it had received a series of investments from Tencent, Sony, Square Enix, and Actoz. China-based technology behemoth Tencent led the funding round.
“We are very excited to have some of the most important players in the game industry as our strategic shareholders. Their investments represent a vote of confidence in our technology, our achievements, and our potential role in the rapidly growing cloud game market. With our innovative technology and their resources, we shall help more partners roll out cloud game contents and services and accelerate the industry’s transformation to the cloud,” commented Ubitus CEO Wesley Kuo.
The company didn’t disclose any details of the investment. However, Bloomberg citing a close source, estimated that the investment amount could be close to around $45 million. The source also said the company has a market valuation of about $400 million.
Ubitus was founded in Taipei, Taiwan, in 2007, but the company later relocated its headquarters to Tokyo, Japan. Prior to this latest investment round, South Korean electronics giant Samsung invested $15 million in the company.
The company has established itself as a leading provider of cloud-gaming solutions, thanks to the low latency of its cloud-gaming technologies. To make its services available to a wider audience, it partners with major companies, including Nintendo, which offers cloud versions of Capcom’s Resident Evil and Ubisoft’s Assassin’s Creed.
Square Enix also utilizes Ubitus’s cloud-gaming technology to stream its popular multiplayer role-playing game Dragon Quest X.
Meanwhile, Tencent is actively seeking to make its mark on the lucrative cloud gaming space. On Monday, the company said it was partnering with a Japanese cloud gaming service, OOParts, to benefit from the technology.
Sony already has a cloud gaming platform with PlayStation Now, which the company developed after acquiring Gaikai in 2012, and OnLive patents it bought in 2015.
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