China’s Tencent takes over two ByteDance video game teams: source
Add BT as a preferred 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
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
CDL, Hong Realty outbid 3 other bidders with S$542.4 million offer at S$1,865 psf ppr for Peck Hay plot
Private equity giant Carlyle can grow bigger but needs to stay on its toes: co-founder David Rubenstein
Evergrande’s liquidation prompts some PwC partners to shield assets, contemplate divorce
