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Report: Tencent closing in on Leyou Tech Holdings acquisition

Follows a long list of suitors for the Hong Kong company

Report: Tencent closing in on Leyou Tech Holdings acquisition

Chinese tech and entertainment giant Tencent is apparently closing in on an acquisition deal for Hong Kong's Leyou Technologies Holdings.

That's according to Bloomberg, which reports that the apparent deal would value the company at $1.3bn. The two firms are talking about a price of between HK$3.30 and HK$3.40 per share. Leyou's majority shareholder, Charles Yuk, is apparently looking to sell his stake of around 69 per cent, in its entirety. 

Tencent was the latest in a long line of companies reportedly interested in buying Leyou. Previously, IDreamSky was in talks to buy the firm, with buyout firm CVC Capital Partners joining these negotiations. The COVID-19 coronavirus pandemic put those talks on ice.

Leyou owns games companies including Warframe maker Digital Extremes, as well as Splash Damage. 

For the full story head over to PCGamesInsider.biz.


PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

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