| Date | Type | Companies involved | Size |
|---|---|---|---|
| December 3rd, 2024 | investment |
Kuro Games Tencent |
Not disclosed |
Tech and entertainment giant Tencent has acquired a majority stake in Chinese developer Kuro Games.
That’s according to Gematsu, which reports that the company has snapped up a new 37 per cent stake in the company. Along with its existing 14.4 per cent ownership, Tencent now owns 51.4 per cent of Kuro Games. It is also the only external shareholder in the studio. There’s no indication as to how much this 37 per cent stake cost Tencent.
In an internal memo, Kuro wrote that Tencent has promised to take a more hands-off approach to managing the company – the studio will remain independent. This is how the Chinese giant has overseen firms such as League of Legends maker Riot Games and mobile behemoth Supercell.
Tencent initially invested in Kuro back in 2023. The studio was founded back in 2014 and recently released Wuthering Waves on Steam earlier this year.
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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.