Tencent take 9.9 per cent stake in develop Seasun

The deal sees the company spend over $140 million on the popular Chinese developer
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Chinese internet company Tencent have been spending again as they aquire a 9.9 per cent minority stake in games developer Seasun Games.

According to a small press release from the Seasun, Kingsoft Corporation (their parent company) has allowed Tencent to by the stake in Seasun Holdings Ltd. for $142.6 million.

The developer is one of China's more veteran outfits for game development, having been formed in 1995 and made their name in creating MMO and mobile titles, including titles like Brave Cross, and won an E3 Best Mobile game award in 2015 for Relic of Gods.

The deal, which was explained by the Financial Times, is rather complex with Tencent using two deals with their Image Frame Entertainment subsidary, which picked up 4.3 per cent of the shares directly from Kingsoft, and the remaining 5.6 per cent from other holding companies including United Websoft, Xiaomi and WestGame Holdings.