Tencent acquires minority stake in Beyond the Wire dev Offworld Industries

Beyond the Wire and Squad developer Offworld Industries has received an undisclosed "strategic investment" from Tencent.

The deal will see Tencent acquire a minority stake in the Vancouver-based studio and allow Offworld to "build upon the live services of its successful first-person shooter titles."

Gram Xu, Tencent's general manager of Tencent Shooting Games, will also join the Offworld board of directors as a result of the deal.

Offworld director of finance Kristine Kakuno said the cash injection is a "validation" of the studio's success in bringing PC shooters to market and its long-term vision.

"[Tencent's] reputation as a strategic partner in providing studios with the resources and freedom they need to excel is well documented," continued Kakuno. "We are thrilled to have them along as we reach new heights with Squad and our future titles.”

The news comes shortly after Tencent acquired Polish development group 1C Entertainment and Nightingale developer Inflexion Games.