News

Tencent acquires 5% as Paradox Interactive goes public

Tencent acquires 5% as Paradox Interactive goes public

It has been revealed that Swedish developer and publisher Paradox Interactive kicked off its trading on May 31, with an initial offering at SEK 33 per share - almost $4.

The company’s total valuation was set at nearly $420 million, with 16,327,400 shares - around 15% of total - available, corresponding to a value of almost $65 million.

Friends in high places

Through the offering, Paradox acquired over 200,000 new shareholders. The largest of these were Chinese giant Tencent and SwedBank Robur, who acquired 5% and 1.7%, respectively.

Tencent already has an impressive footprint in the world of gaming, owning League of Legends developer Riot Games as well as strategic stakes in Miniclip, Glu Mobile, and Pocket Gems. More recently, an acquisition of Supercell has been rumoured.

Fredrik Wester and Spiltan will continue to be long-term shareholders in Paradox, owning 33.3% and 30.5% respectively.

Paradox’s portfolio includes games like Hearts of Iron and Cities Skylines for PC, and, since 2015, has included occasional dalliances in mobile with the likes of Knights of Pen & Paper and Magicka.


Tags:
Intern

Jammy since birth, but not so much playing video games, Borja will rant if you let him. His two hobbies, games and travelling, are only compatible through mobile gaming.

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.