China’s Tencent Buys into Epic Games

A minority stake in Epic Games – the company responsible for Gears of  War and the Unreal Engine – has been bought by Chinese web giant Tencent Develop Online reports.

The day to day operation of Epic will not be changed following the deal as the company’s studios continue to develop Gears of War Judgment and Fortnite.

In China Tencent is a major player running social networks, web portals, e-commerce and MMO services. It also reportedly has 650m active user accounts meaning that it has the world’s largest online community.
The terms of the deal were not disclosed and it is expected to be signed off within a month.

“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,” commented David Wallerstein, senior executive vice president of Tencent.

“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.”

Epic Games’ president Dr. Michael Capps said of 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.”

Epic Games has been in business for 20 years and is responsible for such hits as Unreal Tournament for PC and Infinity Blade for iOS.