Tencent acquired 29% of Norwegian Funcom
The Chinese corporation Tencent has made an investment in the Scandinavian game dev. She bought more than a quarter of the Norwegian publisher Funcom.
Conan Exiles
The amount of the transaction is not reported.
The publisher’s shares were overbought from the investment group KGJ Capital AS. Now Tencent is the largest shareholder of Funcom.
Funcom is one of the most famous gaming companies in Norway. She gained wide popularity in the early noughties as a developer of The Longest Journey and MMO Anarchy Online.
The central releases of her recent years are the online survival Conan Exiles and the turn-based tactical game Mutant Year Zero: Road to Eden, in which Funcom acted only as a publisher.
For Tencent, the purchase of Funcom shares is far from the first significant investment in Scandinavia. In 2016, the Chinese giant acquired 84% of Supercell shares for $8.6 billion.
Also, the acquisition of a Funcom stake is another step in Tencent’s expansion into the Western market. As Bloomberg wrote in June, after the tightening of censorship in China, the corporation decided to reconsider its global strategy. Now she is striving to be more active in the global market.
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