Tag Archives: tencent

Tencent to buy Clash of Clans maker Supercell for $8.6bn

Chinese games giant Tencent has just spent big to buy Clash of Clans developer Supercell. The $8.6bn purchase was confirmed by the studio itself following a report by the Wall Street Journal. For that sum, the media giant will purchase a 84.3 per cent state in the Finnish developer. The …

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Tencent grabs 5% stake in Paradox

Chinese gaming giant Tencent has spent around 14.3m to acquire a five per cent share of Paradox Interactive. The deal values the company at approximately 286m. Paradox CEO Fredrik Wester stays on as a key shareholder with a 33.3 per cent share of the company. Investment firm Splitan owns 30.5 …

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Tencent takes full ownership of Riot Games

League of Legends developer Riot Games has sold the entirety of its remaining shares to Tencent. “Riot’s approach to compensation has always been about aligning the incentives of the company with Rioters, and also about ensuring that we compensate our talented team of professionals well,” the company said. “As a …

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The9 picks up Cross Fire sequel rights for $500m

Publisher The9 Limited has secured the licensing rights for the sequel of Tencent’s popular free-to-play FPS Cross Fire. The company states its joint venture with Oriental Shiny Star Limited has reached a deal with Cross Fire developer Smilegate, which grants exclusive publishing and operation rights in mainland China for a …

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Profits and revenues surge at Tencent

Chinese internet gaming giant Tencent has reported significant increases to its profits and revenues for the quarter ending September. Net income climbed 32 per cent year-on-year to $1.2bn. Revenues increased by 34 per cent to $4.18bn. Overall online game revenues grew 28 per cent while smartphone revenues jumped 60 per …

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Tencent continues to reign as world’s largest games company

Chinese gaming giant Tencent has reported profits in excess of $1bn in its first financial quarter. Profits reached $1.1bn, up eight per cent year-on-year, while revenues jumped 22 per cent at $3.65bn. Operating profit climbed 20 per cent to $1.5bn. Online game revenue grew 29 per cent to $2.1bn while …

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