Tencent Holdings Limited, announces today it has agreed to acquire a minority stake in US-based Epic Games, Inc; the world’s leading 3D game engine technology and award-winning PC, console and mobile game titles.
Epic’s products and services include the Unreal Engine, the market-leading 3D game engine technology used by many game development studios globally, including Tencent; the billion-dollar Gears of War franchise for Xbox 360; the multimillion-selling Unreal and Unreal Tournament games for PC and consoles; and Infinity Blade, one of the top-grossing game series for iOS.
Epic will continue to operate independently and seek to further expand its game franchises across multiple platforms. The deal is expected to close within the next month.
Epic Games President Dr. Michael Capps, had this to say about the deal.
“Tencent’s investment will empower Epic to help us do even more of what we do best, which is making great games and game technology. Their expertise in the global online gaming market is second-to-none, and the opportunity to work with them to bring richer experiences to players all over the world is irresistible. Epic is excited to be full steam ahead on all of its current plans for this generation of games and the next, with the support of a fantastic partner that believes in our strategy and shares our dream.”
David Wallerstein, Senior Executive Vice President of Tencent, threw in some words as well, saying :
“We’ve developed a huge amount of respect for the Epic team for many years now, as dedicated players of Epic’s games and as licensees of Epic’s Unreal Engine technology. Epic’s deep commitment to quality across all of its games and technologies inspires us. They’ve been raising expectations in gaming for two decades now and they’re just getting started.We have a lot that we can learn from each other, and we look forward to supporting the Epic team as they embark on their next phase of gaming innovation across both emerging and familiar platforms.”