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 CN¥100 billion ($14.65 billion) annual powerhouse.