Tencent, one of China’s largest technology companies, has made yet another bold move in the gaming industry. The company recently announced its acquisition of Moonlight Games, a leading gaming studio, in a $1 billion deal.
The acquisition is part of Tencent’s strategy to expand its reach in the gaming industry, particularly in the mobile gaming space. Moonlight Games is known for developing some of the most popular mobile games in China, including “Magical World” and “Empire of Heroes”. With this acquisition, Tencent will gain access to Moonlight Games’ extensive mobile gaming portfolio and a team of experienced developers.
This move comes at a time when the global gaming industry is experiencing significant growth, particularly in the mobile gaming sector. Mobile games accounted for nearly 60% of the global gaming market in 2022, according to market research firm Newzoo. Tencent is already a major player in the industry, with popular games such as “Honor of Kings” and “PUBG Mobile” under its belt.
However, Tencent has faced increasing competition in recent years from other gaming companies, particularly in the mobile gaming space. The acquisition of Moonlight Games is seen as a strategic move for Tencent to maintain its position as a leading player in the industry.
In a statement, Tencent’s CEO, Pony Ma, said that the acquisition of Moonlight Games was a “strategic investment” for the company. “We are excited to welcome Moonlight Games to the Tencent family and look forward to working together to create even more innovative and engaging gaming experiences for our users,” he said.
The acquisition also represents a significant milestone for Moonlight Games, which was founded in 2010 by a group of gaming industry veterans. The studio has since become one of the most successful gaming studios in China, with a strong focus on mobile gaming.
Commenting on the acquisition, Moonlight Games’ CEO, Zhang Wei, said: “Joining Tencent is an exciting opportunity for us to continue to innovate and grow in the mobile gaming space. We are confident that Tencent’s extensive resources and expertise in the gaming industry will help us to take our games to the next level.”
The acquisition is subject to regulatory approval and is expected to be completed by the end of the year. With this move, Tencent is expected to strengthen its position in the mobile gaming market and continue its growth in the global gaming industry.