March 23, 2010 (FinancialWire) — The9 Ltd. (NASDAQ: NCTY), an online game developer and operator in China, and Red 5 Studios, Inc., an online game developer in the United States, said they have entered into a definitive investment agreement pursuant to which The9 will invest around $20 million for a majority interest in Red 5.

The9’s CEO Jun Zhu, said the move, “will further enhance our game development capability and diversify our game portfolio and pipeline.”

China-based The9 Ltd.’s business is primarily focused on developing and operating games for online game market.

California-based Red 5 Studios is an online game developer formed in 2006 by former executives and developers from Blizzard Entertainment.

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