Chinese Telecom Company Acquired Minor Stake in Epic Games

<p>Tencent Holdings Limited&comma; an internet&comma; mobile and telecommunications service in China has acquired a minority stake in Epic Games&comma; Inc&period;<&sol;p>&NewLine;<p>Epic will continue to operate independently and will expand their gaming franchises across multiple platforms&period; The deal is expected to close next month with the exact terms of the deal not being disclosed&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We&&num;8217&semi;ve developed a huge amount of respect for the Epic team for many years now&comma; as dedicated players of Epic&&num;8217&semi;s games and as licensees of Epic&&num;8217&semi;s Unreal Engine technology&period; Epic&&num;8217&semi;s deep commitment to quality across all of its games and technologies inspires us&period; They&&num;8217&semi;ve been raising expectations in gaming for two decades now and they&&num;8217&semi;re just getting started&comma;” said David Wallerstein&comma; Senior Executive Vice President of Tencent&period; &OpenCurlyDoubleQuote;We have a lot that we can learn from each other&comma; and we look forward to supporting the Epic team as they embark on their next phase of gaming innovation across both emerging and familiar platforms&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Tencent’s investment will empower Epic to help us do even more of what we do best&comma; which is making great games and game technology&period; Their expertise in the global online gaming market is second-to-none&comma; and the opportunity to work with them to bring richer experiences to players all over the world is irresistible&comma;” said Epic Games President Dr&period; Michael Capps&period; &OpenCurlyDoubleQuote;Epic is excited to be full steam ahead on all of its current plans for this generation of games and the next&comma; with the support of a fantastic partner that believes in our strategy and shares our dream&period;”<&sol;p>&NewLine;