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Tencent Purchased 20% Stake In South Korean Game Studio Shift Up

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Tencent has purchased a 20% stake in the South Korean video game studio Shift Up. The conglomerate is now the second largest shareholder in the developer behind Goddess of Victory: Nikke. The acquisition marks another addition to the firm’s efforts to expand its market presence within the global games market.

A month after launching in November, the mobile game Goddess of Victory, published by Tencent subsidiary Level Infinite, generated $100 million in consumer spending. In August, both Sony and Tencent acquired a combined 30% stake in FromSoftware. 

Back in September, the tech firm increased its investment in Ubisoft. The approximately $300 million cash injection saw the tech firm take a 49.9% stake in Guillemot Brothers Limited, which owned 13% of Ubisoft’s shares before the deal. Later that month, Tencent took a minority stake in Mordhau studio Triternion. 

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