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Tencent has acquired 14.6 per cent of Kim Kardashian: Hollywood developer Glu Mobile for $126 million.
The firm has agreed to acquired 21 million shares at a price of $6 each. Head of Tencent’s Interactive Entertainment Group Steven Ma has also joined the US company’s board of directors as part of the deal.
The news comes as Glu entered into an exclusive mobile games partnership with Britney Spears. The first title is expected to be released in the first half of 2016.
"Tencent was attracted to Glu due to its five-year growth track record, high-quality entrepreneurial management, and unique approach to methodically building a portfolio of success in the shooter, action-RPG, narrative-RPG, time-management, sports and racing genres,” said Ma.
“Collaboration between our companies will enable Glu to tailor its games more powerfully by tapping Tencent’s strength in online, social and MMO capabilities. I look forward to working with Niccolo and the rest of the Glu Board to take Glu to the next level.”
Tencent owns a stake in numerous Western companies, including the likes of Riot Games, Miniclip and Epic Games. The firm also helps publish titles for other firms in China and around the globe, such as Bigpoint’s Drakensaang Online and Hi-Rez’s Smite.
Last year Develop columnist Nick Gibson wrote about Tencent’s rise in the game industry and how it is bigger than publishing giants EA and Activision.
