China-based Tencent Buys Minority Stake in Epic Games
Tencent Holdings has agreed to purchase a minority stake in Unreal developer Epic Games.
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.
Get Tom's Hardware's best news and in-depth reviews, straight to your inbox.
Terms of the investment were not disclosed.
Kevin Parrish has over a decade of experience as a writer, editor, and product tester. His work focused on computer hardware, networking equipment, smartphones, tablets, gaming consoles, and other internet-connected devices. His work has appeared in Tom's Hardware, Tom's Guide, Maximum PC, Digital Trends, Android Authority, How-To Geek, Lifewire, and others.
-
SmileyTPB1 I'm not sure if giving a Chinese company a toe hold in your company is a good idea but if Mike Capps thinks this won't end badly then go right ahead.Reply -
dark_knight33 Make a bigger engine? Unreal Engine 3 is already used in countless game, and UE4 is almost here. What exactly will having the input of a chinese company "in a good way" do for an already enormously successful technology company?Reply
Too many cooks..... -
revolution2718 How did this article not mention Tencent owns Riot Games of League of Legends fame?Reply -
arlandi of course they will only own small minority in Epic Games. It's only ten-cents...Reply
it looks like they're going to go deeper into mmo in china, and with good relationship with a local company they hope to get into it better than as a foreign/us company. -
kcorp2003 hoofheartedWhy not? The Chinese practically own the USA anyway.Reply
China own 8% of our debt. About 46% is own by other Foreign governments. the rest is own by American people and its government.
This china owns usa is just a joke in economics gone too far that its making people like you believe it. -
_Cubase_ kcorp2003China own 8% of our debt.Reply
Thanks for clearing that up... and here I was thinking that 8% of $14 trillion was a big deal.
-
aftcomet _Cubase_Thanks for clearing that up... and here I was thinking that 8% of $14 trillion was a big deal.Reply
Thanks for clearing that up... and here I was thinking 100% of one dollar was a big deal. -
kcorp2003 Reagan debt: $935.1 billion to $2.8 trillion ------(1.865 trillion increase)Reply
Bush debt: $2.8 trillion to $4.145 trillion ------(1.345 trillion increase)
Clinton debt: $4.145 trillion to $5.95 trillion-----(1.805 trillion increase)
Bush debt (two terms): $5.95 trillion to $11.315 trillion----- (5.365 trillion increase)
Obama debt (one term): $11.315 trillion to +14.294 trillion (of last year 2011) ---- (2.979 trillion increase) might increase further with a second term
According to my professor about $9.8 trillion is own by american people and government. China holds the highest of all foreign countries. -
aqualipt dark_knight33Make a bigger engine? Unreal Engine 3 is already used in countless game, and UE4 is almost here. What exactly will having the input of a chinese company "in a good way" do for an already enormously successful technology company?Too many cooks.....Reply
i think they want to make the engine as popular as the "Made In China" Stamp :lol: