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Tencent acquires minority stake in Beyond the Wire dev Offworld Industries
Offworld will use the cash to "build upon the live services of its successful first-person shooter titles."
March 1, 2022
1 Min Read
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.”
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News Editor, GameDeveloper.com
Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.
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