BeQuiet Jubiläum Banner 970x90
Breaking News

CORSAIR VOYAGER a1600 Gaming & Streaming Laptop AMD Advantage Edition Available Now Samsung Electronics Breaks Ground on New Semiconductor R&D Complex in Giheung, Korea DJI Granted World’s First C1 Drone Certificate SP Industrial’s BiSC5 Flash Cards for Surveillance Edge and Professional Cinema Storage JEDEC announces Universal Flash Storage (UFS) 4.0 specs

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Tencent Seeks to Acquire Full Ownership of Funcom

Tencent Seeks to Acquire Full Ownership of Funcom

Gaming Jan 22,2020 0

Tencent has today announced a voluntary cash offer to acquire all shares in Norwegian game developer Funcom.

Tencent, a leading Internet company with a strong online games operation, is a shareholder in many leading gaming developers, such as Riot Games, Epic, Supercell, Ubisoft, Paradox and Frontier. The company already owns close to 29% of the shares in Funcom and news of the intended takeover is greeted with enthusiasm from Funcom CEO Rui Casais.

“We have had a great relationship with Tencent as our largest shareholder so far and we are excited about this opportunity,” says Funcom CEO Rui Casais. “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. Tencent will provide Funcom with operational leverage and insights from its vast knowledge as the leading company in the game space.”

Funcom is a publicly traded company on the Oslo Stock Exchange and Tencent will seek to acquire shares directly from all the other shareholders. Tencent is offering all shareholders NOK 17.00 per share, which is 27.3% higher than the closing price of Funcom shares on January 21st, 2020. Shareholders are free to either accept or reject the offer during the offer period, which is expected to start early February. Funcom’s management board and supervisory board have unanimously decided to recommend shareholders to accept the offer.

Following the intended acquisition, there are no planned changes to Funcom management, staffing, or structure, with the company set to remain an independent business. Funcom will also continue to support its long-running online games Conan Exiles, Secret World Legends, Age of Conan, and Anarchy Online. Casais points out that Tencent has a reputation for being a responsible long-term investor, renowned for operational capabilities in online games. Having had Tencent as a majority shareholder since October 2019, has only reaffirmed that notion.

Funcom was founded in 1993, but the recent years have been the most successful and profitable in the company’s 27-year history, following the success of online survival game Conan Exiles. In addition to various projects, including the continued support of Conan Exiles, the Norwegian game developers are currently developing an open world multiplayer survival game based on Frank Herbert’s Dune.

In connection with Tencent’s voluntary offer, the Funcom management have decided to publicly announce several strategic and operational matters. Management intends to increase the ambition level of the upcoming Dune game pending board approval, with resources being allocated from other initiatives and possible additional financing.

Tags: Tencent
Previous Post
Apple Will Not Unlock iPhones Even For the FBI, But User's Backup Data is a Different Story
Next Post
Sonos Customers Upset Over Move to Stop Updates for Older Speakers

Related Posts

  • Huawei to Develop Cloud Game Platform With Tencent, Outlines Kunpeng Cloud Plan

  • Tencent to Add New Short-Video Format to WeChat

  • Chinese Assault: Tencent to Invest Overseas, ByteDance Eyes Expansion to Mobile Gaming

  • Nintendo Switch Launching in China on Dec. 10

  • Tencent Could Work With Nintendo on Games for the U.S. Market

  • Call of Duty: Mobile Launches October 1 on Android and iOS

  • Tencent Expands WeChat to Cars

  • Qualcomm Announces Cooperation with Tencent Games

BeQuiet Jubiläum Banner 300x600

 

Latest News

CORSAIR VOYAGER a1600 Gaming & Streaming Laptop AMD Advantage Edition Available Now
Gaming

CORSAIR VOYAGER a1600 Gaming & Streaming Laptop AMD Advantage Edition Available Now

Samsung Electronics Breaks Ground on New Semiconductor R&D Complex in Giheung, Korea
Enterprise & IT

Samsung Electronics Breaks Ground on New Semiconductor R&D Complex in Giheung, Korea

DJI Granted World’s First C1 Drone Certificate
Consumer Electronics

DJI Granted World’s First C1 Drone Certificate

SP Industrial’s BiSC5 Flash Cards for Surveillance Edge and Professional Cinema Storage
Enterprise & IT

SP Industrial’s BiSC5 Flash Cards for Surveillance Edge and Professional Cinema Storage

JEDEC announces Universal Flash Storage (UFS) 4.0 specs
Enterprise & IT

JEDEC announces Universal Flash Storage (UFS) 4.0 specs

Popular Reviews

CeBIT 2005

CeBIT 2005

CeBIT 2006

CeBIT 2006

Zidoo Z9S 4K Media Player review

Zidoo Z9S 4K Media Player review

LiteOn iHBS112 review

LiteOn iHBS112 review

Club3D HD3850

Club3D HD3850

External USB Slim Recorders Comparison

External USB Slim Recorders Comparison

Pioneer BDR-2207 (BDR-207M) BDXL burner review

Pioneer BDR-2207 (BDR-207M) BDXL burner review

Crucial P1 NVMe 1TB SSD review

Crucial P1 NVMe 1TB SSD review

Main menu

  • Home
  • News
  • Reviews
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed