The Chinese giant Tencent is getting more and more involved in the video game. Not a week goes by without the company acquiring a stake in a studio. In 2021 alone, the company was able to reach an agreement with Dontnod, bought shares in Bohemia Interactive and yesterday They acquired 3.8% of the shares Remedy entertainment.
A little more precise, as stated in this press release, This is Accendo Capital SICAV RAIF has sold 500,000 shares remedy (which corresponds to 3.8% of the issued shares and votes) to Tencent Holdings Ltd. Accendo Capital still holds around 1.8 million shares today, even after the transaction with Tencent. Additionally, all of the remaining shares in Accendo Capital equate to 14.0% of the shares in Remedy.
Remedy Entertainment, Tencent and Accendo have spoken
Following this exchange, Tencent Holdings Ltd, Accendo Capital and Remedy took the floor. Tero Virtala, CEO of Remedy Entertainment, said the purchase was made without Remedy, but he is honored that the Chinese firm is interested in their teams.
This is a capital markets transaction between Accendo Capital and Tencent that has nothing to do with Remedy’s operations. We are of course aware that Tencent has a great deal of expertise in the industry. We are therefore honored by your interest in Remedy and look forward to welcoming Tencent as a new shareholder.
Tero Virtala
Tencent vice president Bo Wang said he has been following Remedy Entertainment’s progress for some time. He was also impressed with the success of the studio. He looks forward to such an opportunity to become a long-term shareholder in Remedy.
Tencent has been tracking Remedy Entertainment’s progress for a while. He is impressed with what the talented team at Remedy has achieved. Tencent welcomes this opportunity to become a long-term shareholder in Remedy. We look forward to using our industry knowledge to support Remedy going forward.
Bo Wang
In addition, Henri Österlund, the founder of Accendo Capital, said it was an opportunity to have good co-owners.
In all of our investments, we attach great importance to having good co-owners. But also partners who help our portfolio companies achieve their full potential, and we wanted to offer Tencent the opportunity to become a significant shareholder in Remedy.
Henri Österlund
A company with strong licenses
It’s normal for a company like Remedy to attract big companies. In fact, the studio was able to develop essential IPs like Max Payne, Alan Wake, Quantum Fraction and more recently control. In addition, the Finnish company has standardized its games to RCU (Remedy Connected Universe). It was Sam Lake himself who announced it last year.
Hopefully the power of Tencent can help development teams achieve their best projects. Apparently, the Chinese company remains a minority investor with 3.8% of the shares.
