- Tencent Games is now the sole external shareholder after purchasing HK Hero Entertainment's 37.07% stake.
- Tencent Games had held 14.33% of the company's shares last year.
- Despite this, Kuro’s operations will remain independent, following models like Riot Games and Supercell.
In a significant industry development, Tencent Games has acquired a controlling 51.4% stake in Kuro Games. This change follows the purchase of a 37.07% share from HK Hero Entertainment, positioning Tencent as the sole external shareholder of Kuro Games.
Despite this shift, Kuro Games has assured that its operations will remain independent
Following this transaction, Hero Entertainment no longer holds shares in Kuro Games. In an internal letter released within Kuro Games, it has been noted that Tencent Games assured Kuro’s independent operations strategy will remain as it is and aims to follow the models of Riot Games and Supercell.
Hero Entertainment has supported the developers of Punishing: Gray Raven and Wuthering Waves since 2018, while Tencent Games began significant investments in early 2023. Tencent Games held 14.33% of the company’s shares last year, with the rest of the 37.07% owned by HK Hero Entertainment and 48.59% by the Founding Team.
Earlier this year in March, rumors circulated about Tencent Games taking over 51% of Kuro Games‘ shares and investing in Hero Entertainment, but the actual ownership breakdown remained unchanged at the time. But now, it has eventually turned out to be true.
Kuro Games believes this partnership will bring stability and support its long-term growth. Tencent Games’ backing is pretty huge honestly, and with the majority stake in Kuro Games, there’s hope that more innovations will come from the bank of Wuthering Waves’ huge success, and we as fans are looking forward to the same.
Read other related articles:
- Miniclip acquires mobile game developer Easybrain from Embracer Group for $1.2 billion
- Modern Times Group (MTG) acquires Raid: Shadow Legends creator Plarium for $620 million
- Supercell acquires 100% of Space Ape Games, London Studio to be operational by Spring 2025
- Digital Turbine announces acquisition of ONE Store International, a subsidiary of ONE Store
For more Mobile Gaming news and updates, join our WhatsApp Group, Telegram Group, or Discord server. Also, follow us on Instagram, Twitter and Google News for quick updates.
