Mattel to Buy NetEase’s 50% Stake in Mattel163 for $159 Million
Mattel agreed to acquire NetEase’s 50% stake in their Mattel163 gaming venture for $159 million, expecting to close by the end of the first quarter and gain full control of four IP-based mobile titles. The JV’s games have amassed 550 million downloads and attract 20 million monthly active users, boosting Mattel’s digital publishing footprint.
1. Stake Sale Details
On February 11, Mattel agreed to purchase NetEase’s 50% share in their Mattel163 joint venture for $159 million, with the transaction slated to close by the end of Q1. This move grants Mattel full ownership of the unit formed in 2018.
2. JV Performance Metrics
Mattel163 has released four mobile games based on Mattel IP, including “Uno” and “Skip-Bo,” which collectively have 550 million downloads and draw 20 million monthly active users. The venture employs several hundred people focused on digital game development.
3. NetEase Strategic Refocus
NetEase is scaling back North American studios and cutting staff to concentrate on key franchises like Marvel Rivals and Eggy Party. Selling its JV stake strengthens liquidity and aligns with its strategy to streamline international operations.