Epic Games said on Tuesday that China-based Tencent Holdings Limited has agreed to acquire a minority stake in the U.S.-based developer. The deal is expected to close within one month, subject to customary closing conditions.
"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," Wallerstein added.
Tencent Holdings Limited is a leading provider of Internet and mobile and telecommunications value-added services in China. One of its main services is interactive entertainment which includes the MMOGs Journey to the Fairyland, Dungeon & Fighter, Hero Island and others. It's also the exclusive agent service company for the online free-to-play shooter, CrossFire, in China.
So what does this minority purchase mean for Epic? An extra avenue of funds to make a bigger engine, bigger games. But it also means Tencent Holdings will have some input "in a good way."
"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," Capps added.
Terms of the investment were not disclosed.