News

Tencent makes $72 million strategic investment in Chinese developer Ourpalm

Date Type Companies involved Size
June 20th, 2017 investment OurPalm
Tencent
$7.2m
¥489m
Tencent makes $72 million strategic investment in Chinese developer Ourpalm

Chinese tech giant Tencent has made a strategic investment of around $71.7 million in fellow Chinese game developer Ourpalm.

The deal means that Tencent now owns 55.4 million shares in Ourpalm, which equates to 2% of the company. Shares were sold at 8.84 yuan each, for a total of 489.7 million yuan ($71.7 million).

Tencent's investment will be used to strength the companies tie with the developer. Ourpalm has already worked with Tencent to publish titles such as The King of Fighters 98 Ultimate Online and MU Miracle in China.

A strong force

"Ourpalm is a strong force in the games market within China. The company has developed many successful games and owns stakes in various game developers," Niko Partners analyst Daniel Ahmad told PocketGamer.biz.

"This investment will allow Tencent and Ourpalm to strengthen their co-operation and deepen their relationship."

Tencent is rumoured to be eyeing up Rovio for a potential acquisition in a deal that values the Finnish studio at $3 billion. Rovio has not made any agreements on this front, and may instead IPO at the end of 2017.


Deputy Editor

Ric likes to read epic poems and watch classic films to hide the fact he plays way too many games. The facade has thus far not been very effective.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies
Important information

This site uses cookies to store information on your computer. By continuing to use our site, you consent to Steel Media's privacy policy.

Steel Media websites use two types of cookie: (1) those that enable the site to function and perform as required; and (2) analytical cookies which anonymously track visitors only while using the site. If you are not happy with this use of these cookies please review our Privacy Policy to learn how they can be disabled. By disabling cookies some features of the site will not work.