Chinese megacorporation Tencent has announced plans to purchase all of Funcom. The acquisition, valued at about $148 million USD, will allegedly have no impact on how Funcom presently operates as a studio.
Tencent explained that the studio’s “impressive” nearly 30-year history is why the company has opted to acquire all Funcom shares. “We are impressed by Funcom’s strengths as a developer of open-world multiplayer, action and survival games,” senior vice president Steven Ma said in a press release. “Funcom has a strong track record in developing new titles with long [lifespans]. We are glad to deepen our relationship with Funcom and look forward to collaborating with Funcom to deliver more exciting and enjoyable game experiences to fans worldwide.”
Funcom is a Norwegian-based studio founded in 1993. The developer has dabbled in a variety of game genres, including puzzlers and sports titles, but Funcom is best known for its interpretation of Conan the Barbarian. 2018’s Conan Exiles, an action-survival game, is the studio’s latest iteration in the franchise. Funcom also published 2018’s Mutant Year Zero: Road to Eden, a turn-based tactical-RPG.
Funcom expressed excitement about deepening its relationship with Tencent and is looking forward to the future. “We have had a great relationship with Tencent as our largest shareholder so far and we are excited about this opportunity,” CEO Rui Casais said. “We will continue to develop great games that people all over the world will play, and we believe that the support of Tencent will take Funcom to the next level.”
Despite Tencent preparing to fully own Funcom, the studio has made it clear that the acquisition doesn’t affect its management, staffing or structure. In fact, Funcom said it will “remain an independent business.”
Tencent has a stake in many of the video games industry’s business companies, including Activision Blizzard, Bluehole (PlayerUnknown’s Battlegrounds), Epic Games, Glu Mobile (Baldur’s Gate), Grinding Gear Games (Path of Exile), Paradox Interactive (Pillars of Eternity), Riot Games, Supercell (Clash of Clans), Ubisoft, and more.
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