Chinese language social media and gaming large Tencent is taking a 29% stake to turn out to be the most important shareholder in Oslo-based Funcom.
The indie video games developer is accountable for a number of diversifications involving the Conan the Barbarian franchise, resembling Age of Conan and Conan Exiles, in addition to a lot of different multiplayer titles — together with a forthcoming open world sandbox recreation that will probably be set within the Dune sci-fi universe.
The information that Tencent has entered right into a share buy settlement to accumulate virtually a 3rd of the corporate was introduced in a press release at the moment. The Chinese language large has agreed to accumulate all of the shares belonging to the Norway-based KGJ Capital AS, which is at present the most important shareholder in Funcom.
Commenting in an announcement, Funcom CEO Rui Casais stated: “Tencent has a repute for being a accountable long-term investor, and for its famend operational capabilities in on-line video games. The perception, expertise, and data that Tencent will carry is of nice worth to us and we sit up for working carefully with them as we proceed to develop nice video games and construct a profitable future for Funcom.”
Tencent, which has a considerable video games operation of its personal, additionally holds stakes in a lot of different main video games makers — together with Riot Video games, Epic, Supercell, Ubisoft, Paradox, Frontier and Miniclip.
A protracted games licensing freeze in China dented Tencent’s income final 12 months. And earlier this year, whereas it reported file income in its Q1 it additionally recorded its slowest income progress since going public.
Regulatory threat at house is one motive for Tencent to broaden its stakes in abroad video games builders and faucet into a world viewers to stoke progress.