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Tencent grabs minority stake in TerraTech developer Payload Studios
Payload said the cash will be used to expand its team and develop new titles with its "signature community-driven model.
February 24, 2021
1 Min Read
Tencent has acquired a minority stake in British developer Payload Studios.
Payload didn't disclose the size of the investment, but said the cash will be used to expand its team and develop new titles with its "signature community-driven model."
Founded in 2013, the London-based studio has spent the past seven years working on its open-world, sandbox builder game TerraTech.
That project was self-funded and self-published by Payload, which explained the Tencent investment will allow it to be more ambitious moving forward.
"This investment is a huge milestone for Payload Studios. It represents a major validation for the team, and everything we have achieved in the past seven years with TerraTech," said Payload co-founder and CEO, Russel Clarke.
"With the strength and reach of Tencent backing us, we can scale our capability and ambition to levels we had only dreamed of until now -- taking the TerraTech IP to new places and opening up entirely new possibilities."
About the Author(s)
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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