Tencent expands global footprint by taking stake in Korean studio Shift Up, creator of hit game Goddess of Victory: Nikke
- The acquisition makes Tencent the second-largest shareholder in Shift Up
- Deal indicates that Tencent is on its way to exerting more influence over global video gaming, as it seeks to offset sluggish domestic growth
Tencent Holdings has acquired a 20 per cent stake in a South Korean video gaming studio, as the operator of the world’s largest video gaming business continues to acquire gaming assets in overseas markets, according to a local media report.
The acquisition makes Tencent the second-largest shareholder in Shift Up, the studio behind hit mobile game Goddess of Victory: Nikke, behind founder Kim Hyung Tae, according to a report by South Korean media Money Today Network.
The report said Tencent acquired the stake before the hit game was officially released in November, without specifying an exact date or the financial terms of the deal.
Tencent did not immediately respond to a request for comment on Monday.
Goddess of Victory: Nikke, a role-playing shooting game which was developed by Shift Up and published by Tencent’s video game publishing division Level Infinite, has become a global hit game after it was launched on November 4.
In the first month of release, it racked up over US$100 million in sales and took the fourth spot among all mobile games in terms of revenue earned from the Apple App Store and Google Play store, according to data from app analytics firm SensorTower. Most of the revenue came from players in Japan, South Korea and the US.