ALL THE LATEST NEWS ABOUT THE BUSINESS OF PC GAMES

News

Tencent puts in offer to buy Oslo games firm Funcom

Tencent puts in offer to buy Oslo games firm Funcom

Chinese tech and entertainment giant Tencent has made an offer to buy all shares in Norwegian studio Funcom.

This would set the corporate behemoth back $148m and follows Tencent buying 29 per cent of the company back in October 2019.

The offer has been apparently welcomed by Funcom CEO Rui Casais (pictured), who said that the two companies have had a good partnership so far. Funcom is currently working on games based on the Dune IP. 

“We have had a great relationship with Tencent as our largest shareholder so far and we are excited about this opportunity,” he said on the company's investor relations page

“We will continue to develop great games that people all over the world will play, and we believe that the support of Tencent will take Funcom to the next level. Tencent will provide Funcom with operational leverage and insights from its vast knowledge as the leading company in the game space.”

Tencent SVP Steven Ma added: "We are impressed by Funcom’s strengths as a developer of open-world multiplayer, action and survival games. Funcom has a strong track record in developing new titles with long life spans. We are glad to deepen our relationship with Funcom and look forward to collaborating with Funcom to deliver more exciting and enjoyable game experiences to fans worldwide.”

Tencent boss Martin Lau said that the company is looking to invest in more companies outside of games moving forward as it attempts to diversify its business.


Tags:
Editor - PC Games Insider

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he was hired to launch PCGamesInsider.biz for Steel Media before departing the firm in October 2019.

He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies