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Roehl Niño Bautista · · 1 min readReport: Tencent launches gaming studio in Canada after two other acquisitions
“Chinese gaming and social media giant Tencent Holdings opened a new overseas game development studio in Montreal and notched up two more acquisitions in a bid to take on Microsoft, Sony, and other top-tier video game companies,” reported South China Morning Post.
Details:
- TiMi Studio Group, Tencent’s video game development subsidiary, launched TiMi Montreal in Canada’s Quebec province. The new studio joins the firm’s two other North American sites in Los Angeles and Seattle.
- Tencent also recently acquired UK-based video game developer Sumo Group and grabbed a majority stake in Swedish gaming company Stunlock Studios.
Dive deeper:
- Tencent has been aggressive in the game development scene and is facing stiff competition in North America from Sea Group’s Garena, which owns the popular shooting game Free Fire.
- Back home, Tencent faces challenges from state regulators, who halted the company’s plan to merge two video game-streaming platforms last week. (Read: How China has been clamping down on big tech empires)
Editing by Collin Furtado and Arpit Nayak
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