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Square Enix and Tencent form strategic alliance

Joint venture to allow for the development of new AAA properties and licensing of existing ones.

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Chinese Tencent is the world's largest gaming company, given their stakes in the likes of Riot Games, Epic Games, Supercell, as well as smaller stakes in Activision Blizzard and Ubisoft, just to name a few. Now the company has signed a letter of intent for a 'strategic alliance' with Square-Enix, with the idea of forming a joint venture to allow for the creation of new intellectual property in the AAA space, as well as licensing of existing IP. We suspect this is a sort of trade-off where Square Enix gets help funding new development and reach new markets, while Tencent gets to leverage some of the strong IPs Square-Enix have on the Chinese market.

Via press release the following comments were provided:

"We have strong expectations for this strategic alliance with Square Enix Group," says Steven Ma, Senior Vice President, Tencent Group. "The alliance will enable us to couple our broad range of internet service capabilities to Square Enix Group's superb creativity, and provide our customers with unprecedented content experiences on a global basis."

"Tencent Group and Square Enix Group share the vision of utilizing technology and creativity to deliver unprecedented entertainment experiences and services to a global audience," said Yosuke Matsuda, President and Representative Director of Square Enix Holdings. "This newly established alliance will be a strong boost to Square Enix Group's strategy to diversify our content offerings and expand access channels to a wider customer base."

Square Enix and Tencent form strategic alliance
Final Fantasy is likely a property that will somehow be part of this alliance.


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