Tencent Holdings has acquired a 20% 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, reports the South China Morning Post.
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.