Tencent purchases 20% stake in Korean sport developer Shift Up



Tencent has bought a 20% stake within the South Korean online game studio Shift Up.

As reported by South China Morning Post, the conglomerate is now the second largest shareholder within the developer behind Goddess of Victory: Nikke.

A month after launching in November, the cellular sport Goddess of Victory, printed by Tencent subsidiary Degree Infinite, generated $100 million in shopper spending.

The acquisition marks one other addition to the agency’s efforts to increase its market presence throughout the international video games market.

In August, each Sony and Tencent acquired a mixed 30% stake in FromSoftware.

Again in September, the tech agency elevated its funding in Ubisoft. A €300 million ($319 million) money injection noticed the tech agency take a 49.9% stake in Guillemot Brothers Restricted, which owned 13% of Ubisoft’s shares earlier than the deal.

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Later that month, Tencent took a minority stake in Mordhau studio Triternion.

In October, it was reported that the conglomerate shifted its M&A exercise to emphasise majority stakeholder exercise in abroad companies.


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