Epic Games has sold a minority stake of its business to Tencent Holdings, a Chinese internet company. The official terms of the deal have not been disclosed. Epic has been seeking investors to buy a minority stake for several years. Even with the minority interest going to Tencent, Epic will remain as a separate entity and continue to develop games for numerous platforms.
Tencent has been quite active within the video game industry over the past few years. The company has a huge online gaming customer base throughout Asia and has expanded into the Americas last year by paying $400 million to acquire a majority stake in Riot Games, developers of League of Legends. According Epic CEO Tim Sweeney, Tencent is a perfect counterpart for Epic, saying “Basically, wherever Epic is not, Tencent is…in a big way.”
Tencent’s global reach is something that Epic hopes to capitalize on. Epic President Michael Capps hopes to use Tencent’s online gaming expertise to further both companies, saying:
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.
Lucas has evolved in his video game preferences. With a foundation in predominantly sports game, action adventure games are now his favorite to play. He is a competitive swimmer and likes to play volleyball, basketball, and golf.
About Default Prime
Default Prime is an independent video game website that is dedicated to bringing you the latest news, reviews, editorials, features, and video content on a daily basis. We like to keep things relaxed enjoy chatting and hanging out with our readers.