Tencent launches Montreal gaming studio, acquires two new firms, in bid to take on Microsoft and Sony
- TiMi Studio Group, the Tencent flagship game developer, unveiled TiMi Montreal on Monday, joining its two other studios in Los Angeles and Seattle
- Tencent also took a majority stake in Swedish gaming company Stunlock Studios, bringing its total developer workforce to more than 4,000
Chinese gaming and social media giant Tencent Holdings opened a new overseas game development studio in Montreal and notched up two more acquisitions in a bid to take on Microsoft, Sony and other top-tier video game companies.
TiMi Studio Group, the Tencent flagship game developer behind titles such as Honor of Kings and Call of Duty Mobile, unveiled TiMi Montreal on Monday, joining the developer’s two other studios in Los Angeles and Seattle.
Separately, on Monday it agreed to acquire British video game developer Sumo Group for £919 million (US$1.26 billion), the company’s biggest investment in the UK.
Then a day later, Tencent announced it had taken a majority stake in Swedish gaming company Stunlock Studios for an undisclosed amount, bringing Tencent’s total number of international game developers to more than 4,000, according to data in the company’s various regulatory filings.
“It is not an exaggeration to say that there has never been a company as aggressive as Tencent in the history of the gaming industry,” said Serkan Toto, chief executive of consultancy Kantan Games. “They do not act with ‘China speed’ any more but seem dead set on driving their strategy to conquer the West with ‘Tencent speed’.”