Tencent Acquires Controlling Stake in Chinese Video Game Studio Wangyuan
Chinese social media and gaming giant Tencent Holdings has acquired a controlling stake in Wangyuan Shengtang, an established local video game studio known for its popular Swords of Legends series. The acquisition, made through Tencent’s investment vehicle Guangxi Tencent Venture Capital, will allow the company to diversify its revenue stream and gain access to the premium franchise. This move aligns with Tencent’s strategy of expanding its gaming empire and reinforces its position as a powerhouse in the industry.
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