China’s Tencent takes over two ByteDance video game teams: source
CHINA’S Tencent has taken over two ByteDance video games units after ByteDance retreated from the gaming business last year, according to a person familiar with the matter.
The two teams Tencent has acquired involve one Shenzhen-based studio working on an action game and another East-China-based studio working on an anime game, the person said on condition of anonymity as the person is not allowed to speak to media.
ByteDance and Tencent did not reply to Reuters’ request for comment.
The two teams have recently formed a new Shenzhen-based company named “Saluosi” which is now 100 per cent owned by a Tencent investment company, according to company database Qixin.com.
Reuters reported in January that ByteDance was in talks with multiple prospective buyers of its gaming assets including Tencent.
ByteDance pulled the plug on majority of its video games business last November, five years after beginning its high-profile foray into the US$185 billion global video games market. REUTERS
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Telcos, Media & Tech
Yahoo to lay off staff in Singapore as it shifts to content curation
Apple’s iPad hit by EU’s digital dominance crackdown
Financial Times, OpenAI sign content licensing partnership
Philips pays US$1.1 billion in US settlement over ventilator recall
Singtel falls 2.5% after announcing S$3.1 billion impairment hit
Intel tumbles most in three months after tepid forecast