Playtonic says it will retain full creative control over its games.
Tencent, the world's largest game publisher, is just a little bit bigger now. Yooka-Laylee developer Playtonic announced today that it has acquired a minority stake in Tencent that will help “create more incredible gaming journeys” in the company, as well as support its newly launched publishing division Playtonic Friends.
“Six years ago we built a cool, exciting rocket ship, set a course that we thought was accurate and exciting,” said Gavin Price, founder of Playtonic. “We are excited that Tencent is taking this route and providing some rocket fuel to further our mission!”
Details of the deal were not disclosed, including how much Playtonic Tencent currently owns, but the studio says it will retain full creative control over the games. The investment will enable Playtonic to become a multi-team developer “with an emphasis on recruiting diverse talent near and far, improving their headquarters and seeking expansion in new locations.”
Tencent is a massive Chinese conglomerate founded in 1998 that deals with a variety of online and technical services. But for gamers, it is primarily known for its investments in multiple major video game developers and publishers. He owns all of Riot Games and owns stakes in Epic Games (40 percent), Ubisoft (five percent), Activision Blizzard (five percent), and Paradox (five percent), and many more. Earlier this year, Spec Ops: The Line developer Yager acquired a majority and also has a stake in Discord.
As we said when it bought Sumo Digital in July, it's hard to overstate how much of the video game industry Tencent owns at this point. But it also faces some significant challenges: Earlier this year, it was revealed that the company was in negotiations with the US government over its stake in Riot and Epic, and the recent pressure from the Chinese government to play has severely impacted its share. price . In September, Tencent added its name to a statement signed by 213 Chinese gaming companies that pledged to implement and follow strict industry regulations set by the government.