The two will work on a new AAA IP together.
Square Enix have announced via a press release that they’ve entered into a partnership, or a “strategic alliance” with Chinese company Tencent, who are the publishers of PlayerUnknown’s Battlegrounds, after signing a letter of intent.
Square claims that it will be leveraging this new partnership to “enhance” its worldwide “content services”. As a result, Square Enix and Tencent will together be working on creating new AAA franchises. “Outcomes of this newly created alliance include the establishment of a joint-venture company, co-development of AAA titles based on new intellectual properties, the licensing of existing intellectual properties, and more,” the press release reads.
As per Tencent’s senior vice president Steven Ma, with this new partnership, Square’s “broad range” of content and Tencent’s “internet service capabilities” will come together to provide “unprecedented content experiences on a global basis”. Meanwhile, Square Enix president Yosuke Matsuda says, “Tencent Group and Square Enix Group share the vision of utilizing technology and creativity to deliver unprecedented entertainment experiences and services to a global audience. This newly established alliance will be a strong boost to Square Enix Group’s strategy to diversify our content offerings and expand access channels to a wider customer base.”
The press release ends by saying that more details on the partnership will be provided at a later date “as progress is made”. Stick with GamingBolt, and we’ll keep you updated.