Tencent Buys 29% Stake in Norwegian Game Developer Funcom
30 September 2019 - 6:10PM
Dow Jones News
By Dominic Chopping
Chinese internet giant Tencent Holdings Ltd. (0700.HK) will buy
29% in Norwegian video-game developer Funcom NV (FUNCOM.OS), the
Nordic company said Monday.
The deal will involve Tencent acquiring all shares belonging to
Norway-based KGJ Capital AS, which is currently the largest
shareholder in Funcom.
Financial details weren't disclosed.
Funcom specializes in online games and has launched multiplayer
role-playing titles such as "Anarchy Online," "Age of Conan," "The
Secret World," and most recently "Conan Exiles."
Earlier this year it acquired the exclusive rights to develop
and publish PC and console games based on Frank Herbert's "Dune"
science-fiction works for the next six years. A new "Dune" feature
film is scheduled for release in December 2020.
"Tencent has a reputation for being a responsible long-term
investor, and for its renowned operational capabilities in online
games," Funcom Chief Executive Rui Casais said.
"The insight, experience, and knowledge that Tencent will bring
is of great value to us and we look forward to working closely with
them as we continue to develop great games and build a successful
future for Funcom."
At 0738 GMT, shares in Funcom were up 21%.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
September 30, 2019 03:55 ET (07:55 GMT)
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