Tencent Acquires Swedish Gaming Firm 10 Chambers, Stock Rises 2.2%
Tencent continues its global expansion following the US ban of WeChat and security scrutiny of investment partners Epic Games and Riot Games.
Tencent recently continued (in Chinese) its global gaming acquisition activities – stock price climbed 2.2% to HKD 522.5.
According to Swedish game studio 10 Chambers, Tencent already holds a significant stake in the company. Neither has announced investment details. 10 Chambers was founded in 2015, and has made many popular games, including shooting games 'GTFO', 'Payday: The Heist,' and 'PAYDAY 2.'
Previously in September, Tencent-invested gaming companies, including Epic Games and Riot Games, drew national security level scrutiny in the United States. Relevant gaming companies have been required to provide information about Tencent's data security agreement.
Gaming occupied the largest revenue income for Tencent, nearly 30% of total revenues in 2019 and oversea areas becoming significant growth areas. In the fourth quarter of 2019, Tencent's overseas game revenue increased more than doubled year-on-year, accounting for 23% of online game revenue.