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Tencent has acquired a 3.8% stake in Remedy Entertainment.

-IZHAN-

Member

Tencent Holdings acquires 3.8% of shares in Remedy Entertainment from Accendo Capital – Accendo owns 14.0% after the transaction.

Remedy Entertainment has been informed that today 18 May 2021, Accendo Capital SICAV RAIF has sold 500,000 Remedy shares, corresponding to 3.8% of outstanding shares and votes, to Tencent Holdings Ltd. Accendo Capital holds approximately 1.8 million shares after the transaction, corresponding to 14.0% of outstanding shares and votes.

Tero Virtala, CEO of Remedy Entertainment said, "This is a capital markets transaction between Accendo Capital and Tencent, and is not connected with the commercial activities at Remedy. We are naturally aware that Tencent has extensive expertise in the industry, so we are honored by their interest in Remedy and happy to welcome Tencent as a new shareholder."

Bo Wang, Corporate Vice President of Tencent said, "Tencent has followed Remedy Entertainment's progress for a period of time and is impressed by what the talented Remedy team have accomplished. Tencent welcomes this opportunity to become a long-term shareholder of Remedy and we look forward to using our industry knowledge to support Remedy in the future.”

Henri Österlund, Founder of Accendo Capital said, "In all our investments we place a high value on having good co-owners and partners helping our portfolio companies to reach their full potential, and we wanted to offer Tencent the possibility to become a meaningful shareholder in Remedy.”
Source: Remedy Investors Press Release
 

OrionNebula

Member
Tencent inserting themselves into everything gaming like
 

Black_Stride

do not tempt fate do not contrain Wonder Woman's thighs do not do not
xXxCrossFireXxX is prob the reason.

Theyre(Remedy) a surprisingly profitable company.
When Tencent buys these "small" amounts its purely because they know they going to be making a killing basically every quarter.

Remedy already have a few game releases with Epic games, which almost certainly will make a profit which they can share with Tencent....who also own some of Epic.
 

Black_Stride

do not tempt fate do not contrain Wonder Woman's thighs do not do not
Didn't know this, I had some faulty recollection that crossfire was Chinese shooter.
Crossfire IP is owned by Smilegate, a Korean Company.

Thats because its most popular region is China....something like 90% of Crossfires money comes from China and Tencent is publisher and marketing master for the game.
So you probably put two and two together assuming it must be Chinese since its so popular in china
 

onesvenus

Member
It seems Sony is not buying them.
I have to ask what's so special about Remedy. Did any of their games sell well? I loved Control but I was under impression that it didn't sold gangbusters
 

Tero Virtala, CEO of Remedy Entertainment said, "This is a capital markets transaction between Accendo Capital and Tencent, and is not connected with the commercial activities at Remedy. We are naturally aware that Tencent has extensive expertise in the industry, so we are honored by their interest in Remedy and happy to welcome Tencent as a new shareholder."​


They love it.
 
It seems Sony is not buying them.
I have to ask what's so special about Remedy. Did any of their games sell well? I loved Control but I was under impression that it didn't sold gangbusters
Remedy games usually have interesting gameplay/narrative concepts, but for some reason they just never sell a whole lot. Either they need a new marketing team to show off their games better and create hype, or they have to become more mainstream in their game design, which would completely defeat the purpose of their games.
 

Bkdk

Member
That means remedy won’t be focusing on single player campaign from now on, they will be putting extra effort on multiplayer side of things.
 

Black_Stride

do not tempt fate do not contrain Wonder Woman's thighs do not do not
they all lookalike to Propeller lol.
Well 90% of Crossfires money comes from China, and Tencent is the publisher in China so its an easy mistake to make.
That means remedy won’t be focusing on single player campaign from now on, they will be putting extra effort on multiplayer side of things.
Less than 4% stake and suddenly Tencent will have a say in what Remedy are gonna be making.
Noting Epic...also partly owned by Tencent is letting them do whatever they want for effectively 100% of development costs upfront?
Buying in 4% of a company gets you at best....at best a cc in their shareholder emails, not even a personalized email will come your way.

Whats the last Remedy game that had multiplayer at all?
Worse still Remedy are profitable because of SP games no, why would Tencent then want to change that when in all honesty we know they bought in just to have this in their financial reports.

From the press release:
This is a capital markets transaction between Accendo Capital and Tencent, and is not connected with the commercial activities at Remedy.
 

Bkdk

Member
Well 90% of Crossfires money comes from China, and Tencent is the publisher in China so its an easy mistake to make.

Less than 4% stake and suddenly Tencent will have a say in what Remedy are gonna be making.
Noting Epic...also partly owned by Tencent is letting them do whatever they want for effectively 100% of development costs upfront?
Buying in 4% of a company gets you at best....at best a cc in their shareholder emails, not even a personalized email will come your way.

Whats the last Remedy game that had multiplayer at all?
Worse still Remedy are profitable because of SP games no, why would Tencent then want to change that when in all honesty we know they bought in just to have this in their financial reports.

From the press release:
This is a capital markets transaction between Accendo Capital and Tencent, and is not connected with the commercial activities at Remedy.
When do investors need to have a major influence to invest in a company? That rarely happens, they invest because they probably know remedy is already planning to do a multiplayer game and they like that idea, that’s why they invest. Single player campaigns are getting risky and multiplayer brings much more stable income, super likely remedy just want to do a multiplayer game and trying to find big investors.
 

Panajev2001a

GAF's Pleasant Genius
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IntentionalPun

Ask me about my wife's perfect butthole
Remedy literally has no say in what people they've already sold shares to, do with those shares.

Nor does Tencent gain any control over them, or any influence on them whatsoever.. Tencent will likely never interact with Remedy employees.

edit: To be clear, not saying this isn't disappointing.. but nothing Remedy can really do about it.
 
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Bo_Hazem

Gold Dealer
Whats the last Remedy game that had multiplayer at all?
Worse still Remedy are profitable because of SP games no

Remedy, since 2018 are working on a F2P multiplayer live service game, running on Unreal Engine 4, tentatively titled "Project Vanguard". It's rumored to be a co-op experience, like Outriders, but is F2P and doesn't need gamepass ultimate to gain free access. Think Destiny 2's free version.

Tencent acquiring a minority stake, now, doesn't change things that are already underway.

 
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IntentionalPun

Ask me about my wife's perfect butthole
It is interesting how that thread was really cut short and very few mentions of the CCP or evil communists taking over, etc… ;).

No company was sold to tencent... that’s peoples paranoia.. nobody is up in arms about Sony or Nintendo selling consoles in China which funnels money to the CCP or some of Sony’s other business units making having business deals with Tencent directly either.

You guys are conflating things; people are largely focused on what Tencent owns.

Some of you literally can’t help but turn every thread into a console war thread.
 
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Panajev2001a

GAF's Pleasant Genius
No company was sold to tencent... that’s peoples paranoia.. nobody is up in arms about Sony or Nintendo selling consoles in China which funnels money to the CCP or some of Sony’s other business units making having business deals with Tencent directly either.

You guys are conflating things; people are largely focused on what Tencent owns.

Some of you literally can’t help but turn every thread into a console war thread.
It is not a console war thread and I am not seeing it as such, it is about part worships and investments… and you may not be up in arms there, but nobody? Really?

Tencent and China will become more snd more of an issue as that market gets richer and its economy and companies keep growing… console allegiance is sometimes tempering the normal worried and angry response at seeing that mechanism in action but it is part of a bigger response to it.
 

Panajev2001a

GAF's Pleasant Genius
This has been predicted for quite some time now.

I think what we need to do is give them a good dose of capitalism :)
Possibly, but at some point the possibility that their economy and their education and industrial complex might surpass the U.S.needs to be considered. I am not saying it will happen but it is generally not great when a thing like U.S. economy supremacy is seen as manifest destiny by its own population and close allies.
 

Shmunter

Member
I don’t know about you guys, but I welcome our Chinese overlords into our hearts

Nihow God Emperor Xi Jipingpong!
 
Doesn't seem like the kind of relationship that would lead to more freedom and creativity - but who knows.

I loved all Remedy games until Control, which I thought was kind of awful. Can't understand why people like that game so much.
 

Black_Stride

do not tempt fate do not contrain Wonder Woman's thighs do not do not
When do investors need to have a major influence to invest in a company? That rarely happens, they invest because they probably know remedy is already planning to do a multiplayer game and they like that idea, that’s why they invest. Single player campaigns are getting risky and multiplayer brings much more stable income, super likely remedy just want to do a multiplayer game and trying to find big investors.

Remedy was no part of this deal.
This was a deal between Accendo Capital and Tencent.
Remedy didnt gain or lose anything because it was shares already owned by Accendo Capital.
 
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