Tencent Acquiring Funcom, Makers of Conan Exiles and Anarchy Online, for $148M

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Tencent is at it again. They're expanding their vast gaming empires with yet another acquisition. This time around they're purchasing Funcom, the Norweigan game developer best known for Conan Exiles and Anarchy Online, for $148M. While the deal was just announced and hasn't closed yet, Funcom's board of directors unanimously approved the detail and encouraged shareholders to vote in favor of the deal. Tencent has a hands-off approach to the company's they invest in and buy out, so not too much should change day to day for Funcom.

Funcom joins Tencent's growing list of gaming companies which now include Riot Games (League of Legends), Supercell (Brawl Stars / Clash of Clans), and Epic Games (Fortnite). Tencent also has a huge investment portfolio that includes much smaller stakes in gaming companies such at Activision Blizzard, Paradox Interactive, and more.