Tencent has acquired Funcom Games, a Norwegian game developer. After purchasing 29 percent stake in the company back in October 2019, the Chinese giant has bought all the shares of the gaming company. Funcom joins the list of other gaming companies where Tencent owns stakes including Epic, Frontier, Riot Games, Paradox, Supercell and Ubisoft.
Funcom's last game was Conan Exiles in 2018 that was an open-world survival game similar to Ark: Survival Evolved. Players had to collect resources, build houses, hunt for food and survive against other human players and the in-game environment.
Currently, the developer is working on a new survival multiplayer game based on Frank Herbert's Dune. Following the news about the acquisition, the company sent out a press release stating that the "scope and ambition level" of the Dune project should be larger than Conan Exiles.
Tencent has spent $148 million to buy all the shares of Funcom, according to an IANS report. Earlier, it had bought a 29 percent stake in the gaming company from KGJ Capital that made it the largest shareholder. According to Polygon, back in 2013, it invested $330 million in Fortnite developer Epic Games, taking about 40 percent of the company. It's buying spree took in League of Legends developer Riot Games. Later, it went on to buy stakes in other gaming companies including Ubisoft, Activision Blizzard, Paradox Interactive, PlatinumGames and more.