Tencent, a Chinese multinational conglomerate announced their intentions to buy Conan Exiles developer Funcom.
Tencent declared a voluntary cash offer to purchase all shares of Norwegian game developer Funcom, with the intention to up the company's stake from the 29% ownership it currently asserts. Tencent already owns stakes in numerous other game businesses including Riot Games (League of Legends), Epic Games (Fortnite) and Supercell (Clash of Clans).
Rui Casais, Funcom CEO responded to Tencent’s offer:
Tencent said he will spend $148 million on the acquisition and confirmed:“We have had a great relationship with Tencent as our largest shareholder so far and we are excited about this opportunity. We will continue to develop great games that people all over the world will play, and we believe that the support of Tencent will take Funcom to the next level. Tencent will provide Funcom with operational leverage and insights from its vast knowledge as the leading company in the game space.”
Funcom advised that it will continue to support its established games, including Conan Exiles, Age of Conan, Anarchy Online and Secret World Legends.“There are no planned changes to Funcom management, staffing, or structure, with the company set to remain an independent business.”