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