Tencent raises $8.3 billion, may target big gaming acquisitions

Tencent raises an incredible $8.3 billion in the largest Chinese fundraiser in history, possibly to buy out gaming powerhouses.

@DeekeTweak
Published Mon, Feb 22 2021 5:35 PM CST

Tencent has raised over $8 billion across twelve worldwide banks, and this massive horde of cash could be used to buy new gaming studios (and publishers).

Tencent raises $8.3 billion, may target big gaming acquisitions 234 | TweakTown.com

Previous reports said Tencent might be eyeing huge acquisitions like EA or even Grand Theft Auto-maker Take-Two Interactive, and now it has the money to back up a buyout of this caliber. The Chinese juggernaut recently raised a staggering $8.3 billion for "general corporate purposes," Bloomberg reports.

While Tencent could shake up the games industry with a high-profile buyout, it's more likely the company will focus on Asian developers like Nexon and NetMarble. Tencent may shy away from stake buyouts or full-on games acquisitions and put its new funds into other markets--Tencent invests its money far beyond just gaming and has put cash into e-commerce, medical, and even has its own credit score system.

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NEWS SOURCE:bloomberg.com

Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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