It’s been announced that Chinese tech company Tencent has acquired a majority stake in German developer Yager, most well-known for Spec Ops: The Line. Tencent had previously invested an undisclosed amount in Yager back in February 2020 that allowed the studio to scale up production and remain independent. The company has now acquired a majority […]
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Tencent Acquires Minority Stake In Lost Soul Aside Developer
Looks like Tencent is not quite done spending money on developers. According to Daniel Ahmad, the Senior Analyst at Niko Partners, the Chinese giant has just acquired a ten percent minority stake in UltiZero Games. The studio is responsible for developing Lost Soul Aside. While details from either parties are sparse, Ahmad states that Lost Soul Aside’s […]
Tencent buying majority stake in Don’t Starve maker Klei Entertainment
Chinese tech giant Tencent will purchase a majority stake in Klei Entertainment, the Canadian indie developer behind Don’t Starve, studio founder Jamie Cheng announced Friday on the company’s official forums. “As part of this agreement,” Cheng wrote, “Klei retains full autonomy of creative and operations across all aspects of the studio, including projects, talent, and […]
Tencent Is Now The Parent Company Of Warframe Developer Digital Extremes
Digital Extremes is ending 2020 with a change of the financial guard. Hong Kong-based Leyou Technologies has been successfully sold to Tencent, the giant Chinese media conglomerate that also owns Riot Games, Funcom, Sharkmob, controlling interests in Grinding Gear Games and Supercell, and has minority stakes in Epic, Activision Blizzard, Paradox Interactive, Ubisoft, and so […]
Tencent Loses $42B in Market Value as Indian Stakeholders Weigh in on a Future Without PUBG MOBILE
The Indian government’s decision to ban the country’s most popular title, PUBG MOBILE was always going to have a ripple effect across the entire industry and the effects are already being felt. Having lost out on what was their biggest market for the game, Tencent has reportedly lost nearly $42B USD in market value in […]
Tencent Esports to Invest $14.5M to Reinforce Peacekeeper Elite Esports Ecosystem, Includes a $2M Global Championship Event
Leo Liao, marketing director of Tencent Interactive Entertainment Group and president of Peace Elite League Union (PEL), announced at the Tencent Global Esports Summit this week that the company will invest￥100M RMB ($14.5M USD) in boosting the esports ecosystem of Peacekeeper Elite, the Chinese version of PUBG MOBILE. Liao said that the PEL Union will […]
Tencent Esports and Global Esports Federation to Jointly Launch ‘Worldconnected Initiative’
Tencent Esports and the Global Esports Federation (GEF) have partnered on a new project called the #worldonnected initiative that was unveiled at the annual Tencent Esports Global Summit held this week at the Hainan Bo Asia International Conference Center. “Today, I’m proud to announce the launch of the #worldconnected initiative, in partnership with Tencent Esports,” […]
Tencent Asks DouYu and Huya to Merge, Looks to Increase its Stake in Huya
Monday, the boards of directors of Chinese live-streaming platforms DouYu and Huya received preliminary non-binding proposal letters from Tencent Holdings proposing that the two companies enter into a stock-for-stock merger. Tencent is looking to convert all DouYu shares into Huya Class A ordinary shares, making Huya the surviving entity of the merger. Since Tencent is […]
Trump ban of Tencent Holdings could affect Fortnite, League of Legends and other games
Could President Trump stop you from playing Fortnite or League of Legends? That spectre arose when Trump unexpectedly added Tencent Holdings to the list of Chinese companies being targeted by recent executive orders. Trump’s probably not trying to ruin your fun, at least not explicitly. But by roping in Tencent he’s potentially affecting a huge […]