Tencent expands global gaming push - Mobile World Live

Tencent expands global gaming push

23 JUL 2021

Tencent this week stepped up its overseas push with the acquisition of two European gaming companies and the opening of a studio in Canada by its TiMi Studio Group.

On 19 July the Chinese web giant upped a minority stake held in Sweden-based Stunlock Studios since 2019 to a majority holding for an undisclosed sum. The same day, Tencent agreed to acquire UK-headquartered Sumo Digital for £919 million.

Michelle Liu, CEO of Tencent Games Global, explained in a statement it was impressed by Stunlock Studio’s performance and would “continue to look to partner with the most-talented development teams in the world to bring the best-quality games to the industry”.

Also on 19 July, TiMi Studio Group detailed plans to open a facility in Montreal to create and develop original IP. The site adds to existing North American development facilities in Los Angeles and Seattle.

Data from Investgame.net showed Tencent closed 50 M&A deals in H1, eight of which were in Europe.

Earlier this month, the company called off a merger of gaming platforms Huya and DouYu in China.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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