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Tencent becomes major stakeholder in Rime firm Tequila Works

Date Type Companies involved Size
March 17th, 2022 investment Tencent
Tequila Works
Not disclosed
Tencent becomes major stakeholder in Rime firm Tequila Works

Chinese tech and entertainment giant Tencent has acquired a majority stake in Spanish studio Tequila Works.

There's no indication of how much money the firm has put behind the Rime developer, but this cash is reportedly going to be used to create brand new IPs. Tequila Works is best known for the likes of Rime, The Sexy Brutal and Gylt. The studio is currently working on League of Legends title Song of Nunu – potentially how the firm came to be on Tencent's radar given that the Chinese firm owns Riot Games.

“For 12 years, the teams at Tequila Works have passionately crafted high-quality titles that radiated our personal sensibilities,” Tequila Works CEO Raúl Rubio (pictured) said.

“But there’s a limit to how much you can grow by yourself.”

He continued: “They’re a partner that can appreciate the value of top creative talent with originality as their banner. One that respects our independence and creative freedom. This partnership will allow us to focus on taking the original IPs we are known for to greater heights and create the best experiences we can dream of."

Tencent Games' VP of partnerships Pete Smith added: “Tequila Works’ creativity and attention to detail has resulted in titles that have delighted audiences around the world. We look forward to working alongside the team and building on these foundations to deliver on its exciting ambitions for future games.”


PCGamesInsider Contributing Editor

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 joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

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