Tencent Wants to Extend Its Gaming Empire, Offering $148M to Fully Acquire Conan Publisher Funcom

The Chinese company that is already one of the biggest gaming companies in the world by revenue has decided to add one more game developer to make sure it will keep its top position on the market. Tencent has offered Funcom $148 million to acquire the game developer fully.

Tencent Wants Full Ownership of Conan Exiles Dev Funcom

Looking back to September 2019, Funcom already had Tencent as an investor, taking a 29% share of the Oslo, Norway-based company. Back then, Funcom CEO Rui Casais stated that the Chinese company has a “reputation for being a responsible long-term investor, and for its renowned operational capabilities in online games,” adding that:

The insight, experience, and knowledge that Tencent will bring is of great value to us, and we look forward to working closely with them as we continue to develop great games and build a successful future for Funcom.”

It seems that these previous deals with Tencent led to this month’s more significant agreement: “We have a great relationship with Tencent as our largest shareholder, and we are very excited to be part of the Tencent team,” Casais stated today.

We will continue to develop great games that people all over the world will play, and believe that the support of Tencent will take Funcom to the next level. Tencent will provide Funcom with operational leverage and insights from its vast knowledge as the leading company in the game space.”

Funcom To Continue Working on Its Dune Project and Support Its Online Game

One of the essential games from Funcom is Dune, based on Frank Herbert’s Dune universe. The game is a promising open-world sandbox and is planned to be released in 2022. Although scheduled for a 2020 release, internal delays, “to external/market pressures with increasingly strong competition,” made the developer delay the release of the game, stated the board in a press release. This is why Funcom turned to supplement their income by getting additional financing from partners like Tencent.

The Chinese company already owns significant stakes in big game developers like Riot Games, Epic, Supercell, Ubisoft, Paradox, Miniclip, and Frontier. Tencent will not interfere with Funcom’s plans of supporting Conan Exiles, Secret World Legends, Age of Conan, and Anarchy Online.