Home » Tencent In $148 Million Bid For Online Games Maker Funcom
Technology

Tencent In $148 Million Bid For Online Games Maker Funcom

Technology

On Wednesday, China’s Tencent Holdings launched a NOK 1.33 billion ($148 million) bid for computer games maker Funcom, sending the Oslo-listed firm’s shares sharply higher.

The board and management of Funcom unanimously supported the all-cash bid of NOK 17 per share, a 27 percent premium to Tuesday’s closing price of NOK 13.35, the companies said in a joint statement.

Funcom’s shares were up 26.2 percent at NOK 16.85 by 0817 GMT.

Funcom is the developer of a variety of computer games that are played online or on other platforms, including adaptations of the Conan the Barbarian franchise.

Last September, Tencent, a major distributor of online games, announced that it had taken a 29 percent stake in Funcom, making it the largest owner.

Steven Ma, Tencent Senior Vice-President said that “Funcom has a strong track record in developing new titles with long lifespans.”

The companies said that Funcom’s management and staff will remain unchanged following the planned acquisition.

Source: https://gadgets.ndtv.com/games/news/tencent-bids-usd-148-million-for-online-games-maker-funcom-2168007

About the author

Reza Mousavi

Reza Mousavi

Reza is a freelance journalist and content writer with experience in Digital Media and Public Relations. He has 6 years of experience working with media, communication agencies and companies of all sizes and fields. He has written contents for several websites and had published pieces.

Add Comment

Click here to post a comment

The following GDPR rules must be read and accepted:
This form collects your name, email and content so that we can keep track of the comments placed on the website. For more info check our privacy policy where you will get more info on where, how and why we store your data.