Chinese Company Tencent Purchases Piece of Paradox
A recent announcement from Paradox Interactive, makers of the recently released Stellaris, details the sell-off of five percent of the company stock to Chinese firm Tencent. Tencent is an investment firm with huge chunks of the pie in a variety of digital industries. Much of the Chinese market for MMOs, content distribution and digital services is held by the firm. Holdings in Asia are not the only powerhouse in Tencent’s portfolio, the company also owns a majority stake in League of Legends developer Riot Games; Tencent also holds stocks of Activision-Blizzard and Epic Games.
Hot on the heels of Paradox’s wildly successful launch of Stellaris, the company will likely look into expanding their reach into previously untapped markets. The ravenous Chinese entertainment industry may well see a spike in Grand Strategy titles as a result of future collaborations between Paradox and Tencent.
Paradox details the enthusiasm of Tencent in the press release:
“Tencent approached us as big fans of our grand strategy games and with a genuine interest in Paradox and our onward journey,” Wester said in a prepared statement. “It has always been very important for us that any partners we bring on board can contribute in a unique and attractive way to Paradox and have a long term commitment to the company. Tencent certainly fit the bill with their network and know-how of a market where we are not yet present and we believe Tencent will be able to add great value to Paradox in near and long term.”
“As China’s game market further develops, players will advance to more sophisticated and complex genres such as grand strategy and simulation games,” said Steven Ma, head of games publishing at Tencent, in that same press release. “I have spent many hours in Hearts of Iron 2, and believe our rich social resources can help Paradox build up loyal fan bases in China.”
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