Mattel starts publishing venture

Toymaker teams up with game giant NetEase to upgrade business

Mattel Inc, one of the world's largest toymakers, has announced a partnership with Chinese game developer NetEase Inc to establish a new publishing and development venture, as the traditional toy brand seeks its transformation in the booming mobile gaming industry.

The joint venture, Mattel163, will create digital experiences and develop intellectual property products based on Mattel's well-known toy brands for children, including Barbie, Thomas & Friends and Hot Wheels. Both sides in the new venture will hold half of the stake.