Tencent Holdings is buying a 20 per cent stake in video games developer Marvelous, giving the Japanese company capital to develop its game franchises and bolstering the content the Chinese internet giant can offer users.
Shenzhen-based Tencent, which runs the world’s largest video games business by revenue, will spend about 7 billion yen (US$65 million), through affiliate Image Frame Investment, to buy stock in the Japanese games maker.