Chinese IT giant Tencent Holdings Ltd on Tuesday announced it was acquiring a minority stake in Epic Game Inc, a US-based three-dimensional gaming developer. "We look forward to supporting the Epic team as they embark on their next phase of gaming innovation across both emerging and familiar platforms," said David Wallerstein, senior executive vice-president of Tencent.
Epic will continue to operate independently after the purchase, according to the deal.
The company is likely to seek further developments in game franchises across multiple platforms, an area that Tencent has scarcely touched.
The deal is expected to close within one month. The terms of the investment were not disclosed