Bilibili plans to buy a stake in the Chinese studio Yoozoo Games for $765 million
Large Chinese companies continue to actively invest in the gaming industry. Bilibili, which owns the video platform of the same name, wants to acquire a stake in the studio Yoozoo Games. The total amount of the transaction is estimated at $765 million.photo: Wikimedia Commons
This is reported by Reuters with reference to several people familiar with the situation.
Bilibili is currently in talks to buy a 24% stake in a Chinese studio worth $475 million. Now the capitalization of Yoozoo Games is estimated at $ 1.98 billion.
According to Reuters, Bilibili also plans to acquire the developer’s headquarters in Shanghai and pay off Yoozoo’s existing debt of almost 700 million yuan ($106 million). At the same time, the studio’s representative rejected the information about the deal.Bilibili is a Chinese company that owns a popular video hosting service in the country. Tencent has already invested in it several times, as well as Alibaba. Last month, Bilibili raised $2.6 billion during a secondary stock offering on the Hong Kong Stock Exchange.
Recently, the company also invested $123 million in the Chinese distribution platform TapTap. It allows local developers to release games bypassing traditional stores and offers a lower commission — including zero percent from in-game purchases. According to analyst Daniel Ahmad, TapTap “helped games like Genshin Impact bypass the distribution channels on Android that Tencent controls.”
Yoozoo also specializes in the development and publication of games, mainly in Asia, Europe and North America. On her account, the MMORPG League of Angels and the browser strategy Game of Thrones: Winter Is Coming.
