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Turtle Rock Studios acquired by Tencent
Turtle Rock Studios was acquired by Tencent earlier this month, and the existing management team will “continue to run all studio operations.”
“We are all looking forward to joining the Tencent family of studios,” said president and general manager Steve Goldstein. This means the studio can pursue the “kinds of ambitious games we dream of”.
- Tencent acquired Riot Games in 2011
- Majority stakes in Fatshark, Klei Entertainment and Yager
- Owns Leyou Technology Holdings, which includes Splash Damage and other devs
- Large stakes in Dontnod Entertainment and Bloober Team
- Smaller stakes in Frontier Developments and Remedy
Acquisitions: Turtle Rock recently launched Back 4 Blood, and it will remain the studio's focus for the immediate future. Tencent owns stakes in a wide range of game companies, including a 40% stake in Epic Games.
Going global: They have also invested in Ubisoft and Activision Blizzard, and the westward expansion is mostly a result of Chinese regulators cracking down on the games industry, slowing growth in the domestic market.