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

Tencent In $148 Million Bid For Online Games Maker Funcom


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.

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