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Tencent Buys ‘Major Stake’ in Swedish Game Developer 10 Chambers Collective

By Ding Yi / Oct 06, 2020 06:22 PM / Business & Tech

Photo: VCG

Photo: VCG

Tencent has invested in a Swedish independent video game studio, the latest in its global acquisition push into the business.

The Chinese tech giant has bought a “major stake” in 10 Chambers Collective, the developer of “GTFO,” a cooperative first-person shooter horror game, the two companies said in a joint statement, without disclosing the amount of money invested and the size of the stake.

Tencent’s investment will add “more muscle” to 10 Chambers Collective’s ambition to reach new heights in the cooperative first-person shooter genre, the Swedish game studio’s creative director Ulf Andersson said in a statement.

The share acquisition comes two months after Tencent purchased a minority stake in Paris-based video game developer Voodoo in a deal that the French company valued at $1.4 billion.

Tencent, ranked by Newzoo as the world’s biggest games publisher by revenue in 2019, already owns “League of Legends” developer Riot Games and holds a large stake in “Fortnite” maker Epic Games. It also collaborates with U.S. industry leaders like Activision Blizzard and Electronics Arts.

Tencent aims to make half of its games’ revenue from outside China, Reuters reported.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Tencent Takes Minority Stake in French Game Maker Voodoo


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