News

China giant Tencent paid $330m for half of Epic Games

Previously alleged "minority stake" revealed as significant share purchase

China based online games giant Tencent owns 40 per cent of Epic Games, financial documents reveal for the first time.

Zoom

In the months following last year's acquisition, which was announced in June, two key directors at Epic Games departed from the company. Cliff Bleszinski and Mike Capps both resigned from the studio towards the end of the year.

Neither suggested there is a link between departing from their board positions and Tencent buying out half the equity of the company. Epic Games initially claimed this acquisition represented a 'minority stake', though this definition is at full stretch.

Tencent paid $330 million for approximately 48.4 per cent of outstanding shares, which measures out as 40 per cent of capital.

In an email statement sent to Polygon, Epic Games founder Tim Sweeney said "as part of the investment, two Tencent representatives joined Epic's board of directors, in addition to the three directors and two observers appointed by Epic".

Comments