Chinese Corporation Tencent Buys Minority Stake in Epic Games

Epic Games has confirmed that one of China’s leading internet, mobile and telecommunications companies, Tencent, has acquired a minority stake of its business, a move that will help it further fund development of games and of the Unreal Engine technology.

Epic Games is one of the leading independent video game developers out there, working on all sorts of big franchises, like Gears of War, while developing one of the most widely used technology in gaming – the Unreal Engine.

Now, it seems that the company’s success

has attracted the interest of Chinese company Tencent, which has just acquired a minority stake in the studio.

“We’ve developed a huge amount of respect for the Epic team for many years now, as dedicated players of Epic’s games and as licensees of Epic’s Unreal Engine technology. We have a lot that we can learn from each other, and we look forward to supporting the Epic team as they embark on their next phase of gaming innovation across both emerging and familiar platforms,” said David Wallerstein, senior executive vice president of Tencent.

The investment will allow Epic Games to continue its game development as well as further market its Unreal Engine technology.

“Tencent’s investment will empower Epic to help us do even more of what we do best, which is making great games and game technology. Their expertise in the global online gaming market is second-to-none, and the opportunity to work with them to bring richer experiences to players all over the world is irresistible,” said Epic Games President, Dr. Michael Capps.

The Epic executive also highlighted that the investment would help Epic establish itself as a leader in terms of next-generation platforms.

“Epic is excited to be full steam ahead on all of its current plans for this generation of games and the next, with the support of a fantastic partner that believes in our strategy and shares our dream,” he added.

As of yet, Epic is working on quite a few big games, including Gears of War: Judgment in collaboration with its People Can Fly subsidiary, as well as Fortnite and quite a few undisclosed projects.

Via: Chinese Corporation Tencent Buys Minority Stake in Epic Games