Tencent takes 20% stake in Splendid for ₤ 65m
Financial investment from Chinese giant will make it possible for Story of Seasons designer to develop brand-new and existing IP
Chinese games and tech firm Tencent has actually acquired a 20% stake in Marvelous, a Japanese publisher and developer.
The company spent approximately ¥ 7 billion ($65 million) on 11.45 million shares in Wonderful, which is best known for Story of Seasons– formerly understood as Harvest Moon– and action video game Daemon x Machina.
Bloomberg reports that Splendid offered 8.62 million brand-new shares to Tencent straight, while the other 2.83 million were offered by existing shareholders Amuse Capital and Nakayama Hayao for the exact same cost.
Wonderful plans to use the financial investment to broaden its existing properties and release brand-new IP within the next 3 years.
The two companies have actually formerly interacted on a Chinese variation of Story of Seasons.
Wonderful ends up being the most current in a long line of video games firms to sell stakes to Tencent.
The Chinese giant already totally owns League of Legends creator Riot Games, Conan Exiles developer Funcom, and Sharkmob, a Swedish studio established by former Ubisoft and IO Interactive personnel.
It also holds stakes of approximately 84% in Ubisoft, Epic Games, Activision Blizzard, Paradox Interactive, Supercell, Netmarble, Glu Mobile, Kakao, Frontier Advancement, Miniclip, Yager Advancement, Bluehole, Sumo Group, and Grinding Gear Games.
Last week, it was revealed that Tencent will be “taking the System Shock franchise forward,” although it’s unclear what role System Shock 3 developer OtherSide Home entertainment will continue to play.