Tencent sunk $330 million into Epic Games, owns nearly half of studio

Sponsored Links

Tencent sunk $330 million into Epic Games, owns nearly half of studio
Back in June, Chinese company Tencent Holdings purchased a minority stake in Epic Games, but it turns out that stake is substantial. Tencent snatched up 48.4% of Epic Games shares last year – that comes to around $330 million invested – and even has the right to nominate individuals to Epic Games' board of directors.

"Since the Group has the right to nominate directors to the board of Epic Games, Epic Games is accounted for as an associate of the Group." This is all laid out in Tencent Holdings' 2012 financial report, available as a pdf document through the source link below. Epic Games was the second US gaming investment from the Chinese outfit following its acquisition of Riot Games in 2011.

Following Tencent's purchase of Epic shares, Epic Games announced it had founded a new studio in Baltimore, saving some Big Huge Games folks from the collapse of 38 Studios to work on Infinity Blade: Dungeons – only for Epic to eventually shutter the studio in February of this year.
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Popular on Engadget