It has been revealed that Tencent Holdings Limited has become a minority stakeholder in developer Dontnod Entertainment. First announced by Actusnews, the French studio has signed a business cooperation agreement with Tencent that has seen the publisher acquire a minority stake in the developer, at a value of 30 million Euros.
According to the post by Actusnews, the new shares in Dontnod are set to be admitted to trading on the Euronext Growth market in Paris. Simultaneously, an offering (valued at 40 million Euros) through an accelerated book building process is also launching to help "ramp-up of DONTNOD's strategy to develop new self-published intellectual properties worldwide on PC, consoles and mobile platforms."
Speaking on the matter, Chairman and Chief Executive Officer of DONTNOD Oskar Guilbert, said: "We are delighted to welcome Tencent as a DONTNOD investor. This is a real expression of trust from a key online game leader, which is behind a number of success stories and has invested in several leading companies in the video game industry."
Guilbert continued, saying: "Through this partnership, DONTNOD is perfectly positioned to take advantage of the various growth drivers in the video game industry, in particular in China and on mobile platforms, in cooperation with an industry leader. The capital increase announced today will enable us to step up and boost the roll-out of our development plan, which aims to capture more value from our original creations by self-publishing more games."
Thanks, Actusnews.