Sections

Tencent invests in Ourpalm - Report

Tech giant acquires 2% of mobile developer for nearly $72 million

Tencent continues to expand its footprint in gaming. As reported by PocketGamer.biz, the tech giant has acquired 2% of Chinese mobile game developer Ourpalm for roughly $71.7 million.

The two companies have previous experience together, with Tencent serving as the Chinese publisher for Ourpalm games like The King of Fighters 98 Ultimate Online and MU Miracle.

While Tencent built its fortune on the strength of Chinese messaging platform QQ, it has in recent years scooped up numerous gaming outfits. It acquired League of Legends developer Riot Games and Clash of Clans maker Supercell, and has also made substantial investments in Epic Games, Netmarble, Glu Mobile, Activision Blizzard, Miniclip, Ltd., Robot Entertainment, Paradox Entertainment, and more.

Last week, Tencent was rumored to be pursuing a $3 billion acquisition of Angry Birds publisher Rovio, and unveiled a five-year plan to grow the Chinese eSports market into a CNĄ100 billion ($14.65 billion) annual powerhouse.

Related stories

Arena of Valor downloaded one million times on Nintendo Switch

US largest contributor to milestone, showing Western viability for Tencent's MOBA on console

By Rebekah Valentine

Tencent undergoes marketing budget cuts as China's licensing freeze persists

Company's gaming division to limit spending, shift budget away from unlicensed titles

By Rebekah Valentine

Latest comments

Sign in to contribute

Need an account? Register now.