TikTok owner ByteDance invests in Code: Odyssey dev Umi. Tencent opens LA office

TikTok company ByteDance has acquired a 36.2% share in Umi Game. Umi is currently developing next gen open world MMO Code: Odyssey powered by Epic Games’ Unreal Engine and Improbable’s multiplayer networking engine Spatial OS.

The investment, according to Niko Partners’ Daniel Ahmad, proves “ByteDance’s interest in AAA games, next gen tech and the global market.” The Umi deal follows a recent string of the company’s investments in gaming companies, including Montoon and Reworld.

In related news, Tencent also continues to grow its video games business and opens a new office in Los Angeles for the gaming department.

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