Tencent reportedly looking to buy ‘Crysis’ developer Crytek
Chinese gaming giant Tencent is reportedly planning to take over Crytek in a deal worth more than €300million.
As reported in German tabloid newspaper Bild and journalist Julian Röpcke, Tencent wants to buy the German game and software developer via a European subsidiary.
Tencent had previously used its subsidiary Proxima Beta Europe BV to acquire a 22 per cent stake in French developer Dontnod Entertainment earlier this year.
Crytek is known for the first instalment of Far Cry, the Crysis series, as well as online multiplayer shooter Hunt: Showdown. These games also run on the developer’s own CryEngine, which has been licensed out to other developers.
The report however notes that CryEngine is also used by the US and German armed forces for military simulation programs.
Röpcke has claimed that multiple employees are worried that Crytek could be used by Tencent for non-commercial purposes, given the corporation’s close ties to the Chinese Communist Party.
According to information, exclusively obtained by @BILD, Chinese internet company #Tencent is trying to buy German games developer #Crytek for more than 300 Million Euros via a European subsidiary.
Crytek supplies several western armies with military simulation programs. pic.twitter.com/tjtbfvNGJk
— Julian Röpcke (@JulianRoepcke) July 13, 2021
Tencent is already known for having many acquisitions and investments in game companies in the West, as well as in Japan, so another acquisition would not be surprising.
Most prominently, the Chinese corporation owns League Of Legends developer Riot Games and mobile developer Supercell, while it also has a 40 per cent stake in Epic Games.
In response to the report, Niko Partners senior analyst Daniel Ahmad, who specialises in covering the Chinese games market, has noted “it’s not a secret that Crytek has been in discussions with a number of buyers.”
Elsewhere, Discord has stepped up anti-harrassment efforts with the acquisition of AI company Sentropy.
Sentropy’s technology will be used to find and automatically remove harmful or abusive messages before users can see them.
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Gaming News Click Here