Tencent today announced that it has acquired a 29 percent stake in Funcom and is now the largest shareholder in the Conan Exiles publisher and developer.
According to a press release, the China-based internet company has snapped up all of the shares that belonged to the Norway-based KGJ Capital AS.
And Capital AS was previously the largest shareholder in the Norwegian publisher and developer before Tencent purchased 29 percent of the shares.
Tencent continues to build its sphere of influence in the gaming industry and adds its stake in Funcom to its shareholder position in several companies, including Ubisoft, Epic Games and Riot Games.
Funcom has been at the helm of different installments in the Conan series and also developed and published titles like The Park.
And the publisher and developer recently landed the exclusive rights for the Dune IP for the next six years.
Funcom has already pushed ahead with plans for an open-world title set in the Dune franchise and plans to continue publishing titles for PC and console.
Legendary Entertainment is collaborating with the Norwegian publisher on a Dune film, which will be helmed by Denis Villeneuve and is slated for release in December 2020.
“We are very pleased to see Tencent come in as the largest shareholder of Funcom,” says Rui Casais, the CEO of Funcom.
“Tencent has a reputation for being a responsible long-term investor and for its renowned operational capabilities in online games.
“The insight, experience and knowledge that Tencent will bring is of great value to us and we look forward to working closely with them as we continue to develop great games and build a successful future for Funcom.”
For more on Funcom, check out Hardcore Gamer’s review for Conan Exiles.