Chinese Tencent has agreed to acquire a 29 per cent stake in Oslo-based developer Funcom, purchasing all shares belonging to KGJ Capital AS and replacing the Norwegian investor as the studio’s largest shareholder.
Funcom is best known for multiplayer titles like Anarchy Online, The Secret World and Conan Exiles. Both 2017 and 2018 were the most profitable years in Funcom’s history.
Check out the Conan Exiles trailer:
Tencent is a leader in online game revenue globally and a shareholder in major game companies around the world including Riot Games, Epic, Supercell, Ubisoft, Paradox, Frontier and Miniclip.
“We are very pleased to see Tencent come in as the largest shareholder of Funcom,” says Funcom CEO Rui Casais. “Tencent has a reputation for being a responsible long-term investor and for its renowned operational capabilities in online games. We look forward to working closely with them as we continue to develop great games and build a successful future for Funcom.”