Tencent buys almost 90% of Wake up Interactive’s stock.
Tencent Holdings ltd. purchased a Japanese creative studio with a number of successful Nintendo Switch titles, according to individuals familiar with the transaction.
According to reliable sources, the Shenzhen-based entertainment conglomerate paid over 5 million yen ($ 44 million) for around 90% of Wake up Interactive Itshares. d’s
Tencent secretly seeks talent in Japan
Wake Up is the parent business of Soleil Ltd., a Tokyo-based firm that worked on Travis Strikes Again: No More Heroes and developed the popular Nintendo Switch game Ninjala. Tencent has made fewer investments in Japan thus far, preferring to focus on gaining international publication rights for future titles, making the company’s adoption of nearly the whole company uncommon.
This year, Tencent has worked with a number of private game creators in Japan, including the September acquisition of Wake Up. Soleil’s reputation of delivering high-quality action games for consoles, PCs, and smartphones inspired Tencent’s attitude to its parent firm.
In addition to many publicly publicised transactions, the two Chinese gaming behemoths have bought shares in a number of smaller Japanese game firms, based on their ability to make a successful game and get a favourable distribution position for it throughout the world.
Tencent sees no benefit in disclosing the acquisition because it does not want to alert competitors or provide them insight into its strategy.