informa
1 min read
article

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."

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.

Latest Jobs

Disbelief

Chicago, Illinois
05.10.22
Producer

Build a Rocket Boy Games

Edinburgh, Scotland
05.12.22
Lead Animation Programmer

Windwalk Games

Austin, Texas
05.16.22
Game Designer

Sucker Punch Productions

Bellevue, Washington
05.10.22
Campaign Director
More Jobs   

CONNECT WITH US

Register for a
Subscribe to
Follow us

Game Developer Account

Game Developer Newsletter

@gamedevdotcom

Register for a

Game Developer Account

Gain full access to resources (events, white paper, webinars, reports, etc)
Single sign-on to all Informa products

Register
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more