Home
Games
Games News
Tencent Bids $148 Million for Online Games Maker Funcom

Tencent Bids $148 Million for Online Games Maker Funcom

The board and management of Funcom unanimously supported the all-cash bid by Tencent.

By Reuters | Updated: 22 January 2020 16:06 IST

Facebook

Tweet LinkedIn Reddit Email Comment

Google News

Tencent Bids $148 Million for Online Games Maker Funcom

Tencent announced last September it had taken a 29 percent stake in Funcom

Highlights

Tencent launched a NOK 1.33 billion bid for computer games maker Funcom
Funcom supported the all-cash bid of NOK 17 per share
Funcom is the developer of a range of computer games

China's Tencent Holdings launched a NOK 1.33 billion ($148 million) bid for computer games maker Funcom on Wednesday, sending the Oslo-listed firm's shares sharply higher.

The board and management of Funcom unanimously supported the all-cash bid of NOK 17 per share, a 27 percent premium to Tuesday's closing price of NOK 13.35, the companies said in a joint statement.

Funcom's shares were up 26.2 percent at NOK 16.85 by 0817 GMT.

Based in the Netherlands, Funcom is the developer of a range of computer games that are played online or on other platforms, including adaptations of the Conan the Barbarian franchise.

Tencent, itself a major distributor of online games, announced last September it had taken a 29 percent stake in Funcom, making it the largest owner.

"Funcom has a strong track record in developing new titles with long lifespans," said Tencent Senior Vice-President Steven Ma.

Funcom's management and staff will remain unchanged following the planned acquisition, the companies said.

Comments

For details of the latest launches and news from Samsung, Xiaomi, Realme, OnePlus, Oppo and other companies at the Mobile World Congress in Barcelona, visit our MWC 2025 hub.

Further reading: Tencent, Funcom