Tencent takes 29% stake in pc video games maker ‘Funcom’ – Know-how

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  Final Up to date On 30 September,2019 04:15 pm

Funcom is the developer of a spread of on-line video games, together with the ‘Conan the Barbarian’ franchise.

OSLO (Reuters) – China’s Tencent Holding Ltd has agreed to purchase a 29% stake in Oslo-listed pc video games developer Funcom changing into the most important shareholder, Funcom mentioned on Monday.

Tencent, itself a significant distributor of on-line video games, purchased the shares from KGJ Capital AS at a 21.eight% premium over Friday’s closing value, valuing Funcom at 1.22 billion Norwegian crowns ($134.33 million).

Primarily based within the Netherlands, Funcom is the developer of a spread of on-line video games, together with variations of the ‘Conan the Barbarian’ franchise.

“The perception, expertise and information that Tencent willbring is of nice worth to us and we sit up for working intently with them,” Funcom Chief Govt Rui Casais mentioned in an announcement.

Funcom’s shares rose by 23% in early commerce, hitting a 10-week excessive of 15.95 Norwegian crowns. 

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