Chinese firm Tencent purchases minority stake in Epic Games

Tencent, the China-based Internet, mobile, and telecommunications company, has announced it has acquired a minority stake in Epic Games. “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, said Epic president Michael Capps. "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 will continue operating independently while further expanding its franchises across multiple platforms. The deal is expected to close within one month and terms of the investment were not disclosed.