Tim Sweeney gave a statement.
Tencent, a Chinese company invested $330 million in Epic Games, and now holds 40% stake in the company. What that means is they can nominate anyone on the board of directors due to having immense influence.
“In June 2012, Tencent made a minority investment in Epic Games, purchasing approximately 48.4 percent of outstanding shares of Epic stock, equating to 40 percent of total Epic capital inclusive of both stock and employee stock options,” Sweeney told Polygon.
“As part of the investment, two Tencent representatives joined Epic’s board of directors, in addition to the three directors and two observers appointed by Epic. We’re thrilled to have a world-leading partner in Tencent, who gives Epic unique access to the Chinese market as we head into the next chapter of our 21-year history as a leading independent developer.”
This acquisition could have been a reason why many high profile people left from Epic Games. But that’s just pure speculation at this stage.
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