Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Trending in China: Shenzhen Thinks Only Children Should Get Paid Leave to Look After Their Parents - Cue Heated Debate
German Drugmaker BI Launches Shanghai Center to Harness Chinese Expertise
Chinese Self-Driving Truck Firm Aims to Cover Most of U.S. by 2024
Trending in China: Chinese Netizens Tell Indian Prime Minister Modi To ‘Shut The Door On The Way Out’ As He Quits Weibo
Trending in China: If You Can’t Beat Them, Join Them – Why Tencent is Laughing At Itself
Meituan Eyes Robot-Enabled Deliveries with $14 Million Investment in PuduTech
India Ban Could Hit TikTok’s Parent Company to the Tune of $6 Billion
Sina Weibo to Issue $750 Million in Bonds
Embattled Leshi Forced to Sell Smart TV, Livestreaming Trademarks
Autowise.ai and Swiss Cleaning Carmaker Launch Driverless Street Sweeper
Trending in China: How an ‘Old Godmother’ Took on China’s Internet Giant and Won
China’s IT Spending Expected to Hit $297 Billion: IDC
TikTok Moves Data Protection of European Users from U.S. to U.K. and Ireland
Trending in China: Dazed and Confused – China’s Elderly in Online Pandemic World
Alibaba-Owned Taobao Live Sacks Former Operating Head for Corruption
Tesla Supplier CATL Breaks Ground With New Battery Lab
Chinese Online Educator Zuoyebang Receives $750 Million Investment
Didi to Halt Service in Several Japanese Prefectures Citing Impact of Covid-19
Trending in China: ‘Robotaxis’ A Brave New World or Creating More Unemployment?
Lazada Appoints Former Alibaba Executive as New CEO
Tencent Takes 20% Stake in Japanese Video Game Firm

By Ding Yi / May 26, 2020 05:03 PM / World

Tencent has reportedly agreed to invest 7 billion yen ($65 million) for a 20% stake in Japanese video game developer Marvelous, the latest sign that the Chinese tech giant is further expanding its video gaming empire overseas.

The purchase, which will be made through Tencent’s subsidiary Image Frame Investment, will mean the Chinese company will become the largest shareholder in Marvelous that is known for its farming simulation game “Story of Seasons,” according to a report by Bloomberg.

The Japanese company will use the funds to bolster its existing game franchises and launch new ones over the next three years. It also plans to deepen ties with Tencent around game development and global expansion, the report said.

In 2019, Marvelous signed a licensing agreement with Tencent authorizing the Chinese company to develop, distribute and operate the mobile version of “Story of Seasons.”

Apart from Marvelous, Tencent has also taken stakes in U.S.-based Epic Games and South Korea’s Bluehole.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Tencent Teams Up With U.S. Chipmaker Nvidia on Cloud Gaming


Share this article
Open WeChat and scan the QR code