Chinese tech giant Tencent has recently acquired a significant majority stake in Kuro Games, the developer behind the popular titles Wuthering Waves and Punishing: Gray Raven. This move marks a pivotal moment for both companies, and here's what it entails.
Tencent Takes 37% Stake In Kuro Games
Tencent has now secured approximately 37% of Kuro Games' shares, boosting its total ownership to 51.4%. This acquisition has led to the exit of two other shareholders, leaving Tencent as the sole external shareholder of Kuro Games. The tech conglomerate initially invested in Kuro Games in 2023, and its stake has grown substantially since then.
Despite this significant investment, a Kuro Games insider, as reported by the Chinese news site Youxi Putao, has assured that Kuro Games will maintain its independence. This arrangement mirrors Tencent's approach with other studios like Riot Games, the creators of League of Legends and Valorant, and Supercell, known for Clash of Clans and Brawl Stars. Kuro Games has stated that this change will foster a "more stable external environment" and bolster its strategy for long-term independence. Tencent has yet to provide an official statement on the acquisition.
Kuro Games, a prominent Chinese game development company, is celebrated for its action RPG Punishing: Gray Raven and the recently released open-world adventure RPG Wuthering Waves. Both games have achieved considerable success, each generating over $120 million USD in revenue and continuing to receive regular updates. Notably, Wuthering Waves has been nominated for Players’ Voice at the upcoming The Game Awards, highlighting its impact in the gaming community.
