Tencent Holdings acquires Sweden-based game developer Sharkmob

Sharkmob deal represents that Tencent still has an appetite for Western game firms.
The Chinese multinational conglomerate Tencent Holdings has reportedly announced that it has acquired game development studio Sharkmob for an undisclosed amount. Reportedly, Sharkmob has been working with undisclosed online game and several new projects together with Tencent.
Fredrik Rundqvist, CEO, Sharkmob, reportedly stated that both the companies see the online gaming future in similar way and Tencent being an internet and games major gives Sharkmob the resources and scope to be a part of that future. The support from the incredible group of game teams of Tencent will enable the company to fully pursue passion of bringing great gaming experiences to as many players as possible, he further added.
Tencent is the biggest social media company of China, and it has holdings in several popular game developers, from Supercell to Epic Games. Sharkmob deal represents that the company still has an appetite for Western game firms.
Steven Ma, Senior Vice President, Tencent, reportedly stated that passionate and creative team of Sharkmob has an established track record of developing triple-A titles which involves open world settings and several gameplays. The company has been looking forward to more exciting innovation for game-lovers by combining technologies and expertise of Tencent and development capabilitiesof Sharkmob, he further added.
For the record, Tencent Holdings Ltd, founded in the year 1998, is a China based global investment holding conglomerate. The subsidiaries of the company specialize in several services such as entertainment,internet-related products and services,artificial intelligenceandtechnology, in China and worldwide. The headquarter Tencent Seafront Towers or Tencent Binhai Mansion,which consists of twin skyscrapers, is based in Nanshan District, Shenzhen.
For the uninitiated, Sharkmob is a privately held company which develops games. The company was founded 2 years ago and is headquartered in MalmÃ¶, Sweden.
Source credit: https://venturebeat.com/2019/05/21/tencent-acquires-swedish-game-studio-sharkmob/

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