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Tencent nabs minority stake in Yooka-Laylee developer Playtonic

Playtonic now intends to "fast-track" a number of projects and become a multi-team studio.

Chris Kerr, News Editor

November 18, 2021

1 Min Read

Tencent has acquired a minority stake in Yooka-Laylee developer Playtonic for an undisclosed fee.

Playtonic explained the deal will allow it to scale from its one team structure to multiple teams, expand its talent pool with a focus on diversity, and improve its headquarters in Derby, UK.

The studio, which also operates a publishing division called Playtonic Friends, will retain full creative control over its IP following the investment.

"Six years ago we built a cool, exciting rocket ship, set a course we think is right and exciting. We are thrilled that Tencent agrees with that course and has provided some rocket fuel to further the reach of our mission," said Playtonic founder, Gavin Price.

Price also expects the deal will allow Playtonic to "fast-track" a number of projects currently in development, while also bolstering the publishing capabilities of Playtonic Friends -- starting with the hiring of former Raw Fury brand manager, Danny Spiteri, as the company's new head of publishing.

"It's been less than a year since Playtonic Friends was unveiled but, it's fair to say, it's made quite an impression in a relatively short space of time," commented Spiteri. "The array of titles that's already been published is quite something and I'm excited to see how I can add wind to the sails to help us build on the momentum we’ve already amassed to power us into 2022.

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About the Author(s)

Chris Kerr

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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