Tencent acquires a minority share in Playtonic Games
Tencent, a Chinese media giant, has acquired a minority stake in Playtonic Games. This is the publisher and developer behind throwback platformer Yooka-Laylee and, through its publishing arm Playtonic Friends. It also publishes titles such as Demon Turf or Bullets Per Minute.
Playtonic claims that it will retain full creative control over all future projects, despite this business move. This funding will be used by the studio to expand its development team and create new teams.
Gavin Price, founder of Playtonic, spoke out about the new partnership in a press release.
Six years ago, we built an exciting rocket ship and set a course that we believe is right. Tencent has now provided rocket fuel to help us reach our goals. Tencent’s support will allow us to scale up the super-exciting and super-secret projects that we have been keeping in our treasure chests. Over the next few years, things will get Bat Ship Crazy! Imagine a wink emoticon
Tencent’s acquisition of Playtonic Games, a minority stake in the company, is just one of a series of notable purchases. Tencent has already invested in more than 800 companies, making it one the largest companies in terms of market value.
Tencent already has Riot Games. It also holds a 40% stake at Epic Games.