The internet company, which owns shares in game developers including Riot Games, Epic Games, Supercell, Ubisoft, Paradox, and Frontier, made a voluntary cash offer to acquire Norwegian game developer Funcom. Tencent’s technology already powers many games and the company nearly 29% of all shares in Funcom.
“We have had a great relationship with Tencent as our largest shareholder so far and we are excited about this opportunity,” says Funcom CEO Rui Casais. “We will continue to develop great games that people all over the world will play, and we believe that the support of Tencent will take Funcom to the next level. Tencent will provide Funcom with operational leverage and insights from its vast knowledge as the leading company in the game space.”
Pending approval of its board, Funcom, plans to “increase the ambition level” of its upcoming open-world survival game based on Frank Herbert’s Dune.
Following the intended acquisition, which will be up for shareholder approval beginning next month, the company plans no changes to its management, staffing, or structure. Funcom says it will continue to support its long-running online games Conan Exiles, Secret World Legends, Age of Conan, and Anarchy Online.