Tencent continues to buy shares in various studios. Tencent was targeted this time by Remedy Entertainment, and the company acquired a 3.8% stake in Remedy.
That amounted to 500,000 shares sold by Accendo Capital, which holds 14% of the shares.
Remedy announced after this acquisition that this was a capital market exchange and had no connection to the commercial activities carried out within the studio. Remedy CEO; Tero Virtala is pleased with the developments: “Of course we know that Tencent has tremendous expertise in the industry, we are honored to have shown interest in Remedy; and we welcome them as our new shareholder”
Tencent was already expected to take over, considering it had its best fiscal year ever in 2020, boosting revenues by 30% to 41.1 million euros.
Remedy has not released any new games this year, instead they have continued to focus on Control.
