Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
June 22, 2021
arrowPress Releases

If you enjoy reading this site, you might also want to check out these UBM Tech sites:

Tencent has acquired a 3.8 percent stake in  Control  developer Remedy

Tencent has acquired a 3.8 percent stake in Control developer Remedy

May 25, 2021 | By Chris Kerr

Tencent has acquired a 3.8 percent stake in Control and Alan Wake developer Remedy Entertainment for an undisclosed fee.

The Chinese company purchased 500,000 shares in the Finnish studio from Accendo Capital, representing 3.8 percent of outstanding shares and votes. Accendo was left with a 14 percent stake in Remedy following the deal.

Tencent is the owner of League of Legends maker Riot Games and Clash of Clans developer Supercell. It also develops and operates a number of high-profile titles in China, including Arena of Valor, Honor of Kings, PUBG Mobile, and Call of Duty: Mobile

The company has made a number of investments since the turn of the year, grabbing minority stakes in Life is Strange developer Dontnod and TerraTech creator Payload Studios.

Tencent said it has followed Remedy's progress for some time and has been impressed by what the studio has accomplished. "Tencent welcomes this opportunity to become a long-term shareholder of Remedy," added Tencent corporate vice president, Bo Wang. "We look forward to using our industry knowledge to support Remedy in the future.”

Remedy chief exec Tero Virtala said the studio was flattered by Tencent's interested but noted the deal was purely a capital markets transaction and isn't "connected with the commercial activities at Remedy."

Related Jobs

Health Scholars
Health Scholars — Westminster, Colorado, United States

Unity Software Engineer
Yacht Club Games
Yacht Club Games — Los Angeles, California, United States

Mid-Senior Game Designer
Hinterland Studio Inc.
Hinterland Studio Inc. — Vancouver/Victoria, British Columbia, Canada

Systems Design Lead (Co-Op, Online, New IP)
Remedy Entertainment
Remedy Entertainment — Espoo, Finland

Lead DevOps Engineer

Loading Comments

loader image