Tencent has become the majority shareholder of Wuthering Waves developer Kuro Games.
As reported by Gematsu (via You Putao), Tencent now holds a 51.4 percent controlling stake in the Chinese studio and has become the only external shareholder. Kuro leadership confirmed the news to employees in an internal memo.
Tencent reportedly told Kuro it will be able to continue operating independently, while Kuro claimed the change will result in a more stable external environment. Kuro was established in 2014 and has released multiple titles including Punishing: Gray Raven and Twin Tail Battleground.
Tencent has established itself as one of the game industry’s most prolific spenders. The Chinese conglomerate has acquired stakes in a number of major companies including Epic Games, Remedy Entertainment, Techland, FromSoftware (via parent company Kadokawa), and Krafton.
It also wholly-owns notable development studios such as League of Legends maker Riot Games and British video game cohort Sumo Group.