Tencent becomes largest shareholder
The news came in today suggesting that Tencent plans on acquiring one third of the company. Tencent is gonna be acquiring all the shares belonging to Norway-based KGJ Capital AS, which of course is the largest shareholder in Funcom.
According to Funcom CEO Rui Casais, he said that ” Tencent has a reputation for being a responsible long term investor, and for its renowned operational capabilities in online gqmes. The insight, experience, and knowledge that Tencent will bring is of 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.”
The main reason why Tencent is trying to expand it stakes on overseas game developers is because of the regulatory risk at home.