In a bid to take on Microsoft, social media and gaming behemoth
Tencent has acquired an additional two companies and announced a new overseas development studio in Montreal, Canada.
Tencent announced it had agreed to acquire British developer, Sumo Group for $1.26 billion, then a day later announced its majority stake in Swedish company, Stunlock Studios at an undisclosed amount.
These latest acquisitions bring Tencent’s total number of international game developers to over 4,000. Already the biggest gaming company by gaming revenue, Tencent is looking to eventually topple Microsoft as the biggest gaming company by market capitalization.
However, with Microsoft’s $2.1 trillion market-cap, Tencent has a long way to go.
It was also announced that Tencent’s flagship game developer, TiMi Studio Group is expanding into Montreal. With locations in Los Angeles and Seattle, TiMi is placing a huge footprint on the North American east coast. With blockbuster titles like Honor of Kings and Call of Duty Mobile, TiMi Studio Group hopes to not only expand on its big-title development, but hopes to create new winners in Canada.
Investments and mergers and acquisitions by large gaming companies continues to break records. While Tencent has been one of the largest purchasers of gaming companies, almost every large gaming company, from Microsoft to Activision Blizzard, has been on a buying frenzy.
Read more about Tencent’s plan to dominate the industry, HERE