Ubisoft sent out a press release announcing that it has entered into an exclusive licensing agreement with Beijing Pegasus Infinite Digital Culture & Media Co. Ltd. (Pegasus) to develop Massively Multiplayer Online video games (MMOG) based on the upcoming Chinese fantasy movie The Promise (“Wu Ji”). The closing of this agreement is subject to requirements to be met by the two parties. Ubisoft and Pegasus will create a joint venture company to develop, promote and operate the game which will be developed by Ubisoft’s Shanghai studio.