Tencent, the Chinese tech giant, has significantly increased its investment in Kuro Games, the developer behind the popular titles Wuthering Waves and Punishing: Gray Raven. This move grants Tencent majority control of Kuro Games.
Tencent's Increased Stake
Tencent's acquisition of an additional 37% stake brings its total ownership to 51.4%. This, coupled with the departure of other shareholders, establishes Tencent as the sole external investor and gives them controlling interest. This follows an initial investment made in 2023.
Maintaining Independence
Despite Tencent's majority stake, Kuro Games assures continued operational independence. This mirrors Tencent's approach with other successful studios like Riot Games (League of Legends, Valorant) and Supercell (Clash of Clans, Brawl Stars). Kuro Games' official statement highlights that this acquisition fosters a more stable environment and supports its long-term independent strategy. Tencent has yet to release an official statement.
Kuro Games' Success
Kuro Games has achieved notable success with both Punishing: Gray Raven and Wuthering Waves, each generating over $120 million USD in revenue. The ongoing support and updates for both games underscore their continued popularity. The recent nomination of Wuthering Waves for The Game Awards' Players' Voice award further solidifies the studio's achievements.
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