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Tencent Plans on Buying Funcom

Tencent is one of the biggest Chinese gaming companies around, and over the years, they’ve expanded and put their fingers in everything. They own stake in companies like Ubisoft, Riot Games, Epic Games, and more. When you have unlimited amounts of money at your disposal, you are bound to make bold moves.

So it comes as little surprise that the news that Tencent is currently looking at purchasing Funcom, developer of games like Conan Exiles as well as The Secret World.

From what we know, the deal is in the works and currently, Tencent owns around 29% of the developer currently. Today, Tencent revealed a cash offer to purchase the remaining shares and are set to begin the purchasing period early in February. If approved, the Funcom would be valued at $148 million USD.

Funcom is an Oslo-based studio and is a publicly-traded company. Tencent is offering shareholders 17 kroner per share during the offer period, which is a rough 27% increase over the current closing price.

“We have had a great relationship with Tencent as our larges“We are impressed by Funcom’s strengths as a developer of open-world multiplayer, action and survival games,” Steven Ma, Senior Vice President of Tencent, said in a statement. “Funcom has a strong track-record in developing new titles with long life span. We are glad to deepen our relationship with Funcom and look forward to collaborating with Funcom to deliver more exciting and enjoyable game experiences to fans worldwide.”t shareholder so far and we are excited about this opportunity,” Funcom CEO Rui Casais said about the news. “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.”

“We are impressed by Funcom’s strengths as a developer of open-world multiplayer, action and survival games,” Steven Ma, Senior Vice President of Tencent, said in a statement. “Funcom has a strong track record in developing new titles with long life span. We are glad to deepen our relationship with Funcom and look forward to collaborating with Funcom to deliver more exciting and enjoyable game experiences to fans worldwide.”

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Bobby has been gaming since he was old enough to walk. Since then, the interest has only grown stronger, and here we are today. Follow Bobby on Twitter, and just go with it. @bpashalidis

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