Tencent paid $330 million to buy 40% stake in Epic Games

Tim Sweeney gave a statement.

Posted By | On 22nd, Mar. 2013

epic games

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.

Tell us what you think in the comments section below.


Tagged With: ,

Amazing Articles You Might Want To Check Out!

Share Your Thoughts Below  (Always follow our comments policy!)



Keep On Reading!

Ubisoft Says it Has “Started an Exploration Phase on the Rayman Brand”

Ubisoft Says it Has “Started an Exploration Phase on the Rayman Brand”

Following recent reports that a Rayman remake is in the works, Ubisoft has stated that it has started explorin...

EA Sports FC 25, Astro Bot Were the US’ Bestselling Games in September

EA Sports FC 25, Astro Bot Were the US’ Bestselling Games in September

Other new releases such as The Legend of Zelda: Echoes of Wisdom, Warhammer 40,000: Space Marine 2, and others...

PS5, Xbox Series X/S, and Switch All Saw Sharp Year-on-Year Declines in US Sales in September

PS5, Xbox Series X/S, and Switch All Saw Sharp Year-on-Year Declines in US Sales in September

Hardware spending in the US fell by 44 percent year-on-year to $251 million, which is the lowest it has been f...

Guilty Gear Strive Balance Update Coming October 31st

Guilty Gear Strive Balance Update Coming October 31st

All 28 characters have received adjustments, from buffs and cancels into other techniques for increased combo ...

Fallout: London Crosses 1 Million Downloads

Fallout: London Crosses 1 Million Downloads

The total conversion for Fallout 4 recently received a massive update, which restores missing dialogue and fix...

The Rogue Prince of Persia is Now Steam Deck Verified

The Rogue Prince of Persia is Now Steam Deck Verified

Evil Empire warns that Steam Deck players "may experience occasional drops in frame rate" in some sections of ...