Chinese tech and entertainment giant Tencent has upped its stake in Swords of Legends publisher Wangyuan Shengtang to take control of the company.
As reported by South China Morning Post, the corporate behemoth now owns 94 per cent of the developer having snapped up 100 per cent of shares in Dongtai Yungpeng Culture, which itself owned 43 per cent of Wangyuan Shengtang. The company's Guangxi Tencent Venture Capital investment vehicle also increased its stake in the studio from 23 per cent to 31 per cent.
Finally, Tencent also owned a 20 per cent stake in Linzhi Tencent Technology, which itself owns a stake in Wangyuan Shengtang.
This all tots up to be 94 per cent.
The developer's CEO, Meng Xianmin, will be retaining his position.
Wangyuan Shengtang was founded in 2009 and is best known for the Sword sof Legends series of RPGs, or Gujian, as it is better known in China. This IP is developed by Aurogon Info and Tech, a subsidiary of Wangyuan Shengtang.