Tencent buys minority stake in Epic Games

Epic Games is getting some financial assistance from Chinese-based Tencent. In a press release today, Epic announced that Tencent has bought a minority stake in Epic Games. The specific financial terms of the deal were not disclosed. However, the press release said that it is expected to close within a month.

Epic said that it will remain an independent game developer following the deal's conclusion. Its president Mike Capps said, "Tencent’s investment will empower Epic to help us do even more of what we do best, which is making great games and game technology. Their expertise in the global online gaming market is second-to-none, and the opportunity to work with them to bring richer experiences to players all over the world is irresistible."

In 2011, Tencent bought a majority stake in Riot Games, the creators of the hit free-to-play game League of Legends.

Epic recently showed off Unreal Engine 4 for the first time in public at E3 2012. The first game that will use that engine is expected to be released in 2013. In addition, Epic is launching a new studio in Baltimore, Maryland in the near future, comprised of team members that worked at 38 Studios' now shut down Big Huge Games.

Source: Epic Games

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