Unity Software Inc, the U.S. developer whose software is used in video games like Tencent Holdings’ “Honor of Kings”, said on Tuesday it had struck a deal to create a joint venture with multiple partners, valued at $1 billion, from its China business. The announcement follows an exclusive Reuters report last week that Unity was in talks to spin off its China unit to help it expand in the world’s biggest games market. Partners in the joint venture include Alibaba Group Holding Ltd, China Mobile Ltd, OPPO, ByteDance’s Douyin Group, PCI Technology Group Co Ltd and G-Bits Network Technology Xiamen...