May 25, 2022

Tencent Seeks to Acquire Full Ownership of Funcom

Tencent has today announced a voluntary cash offer to acquire all shares in Norwegian game developer Funcom.

Tencent, a leading internet company with strong online games operation, is a shareholder in many leading gaming developers. These include names such as Riot Games, Epic, Supercell, Ubisoft, Paradox and Frontier.

The company already owns close to 29% of the shares in Funcom.

Sensible Acquisition

Funcom CEO Rui Casais has treated the news of the intended takeover with enthusiasm;

“We have had a great relationship with Tencent as our largest shareholder so far. Funcom is excited about this opportunity.

We will continue to develop great games that people all over the world will play. And we believe that the support of Tencent will take Funcom to the next level.

Tencent will provide operational leverage and insights from its vast knowledge as the leading company in the game space”.

Press Release

Funcom is a publicly-traded company on the Oslo Stock Exchange. Tencent will seek to acquire shares directly from all the other shareholders.

Furthermore, Tencent is offering all shareholders NOK 17.00 per share. This stands at being 27.3% higher than the closing price of Funcom shares on 21st January 2020. 

Pretty Decent Incentives

Shareholders are free to either accept or reject the offer during the offer period. Funcom’s management board and supervisory board have unanimously decided to recommend shareholders to accept the offer.

Following the intended acquisition, there are no planned changes to Funcom management, staffing, or structure. As such, the company set to remain an independent business.

Funcom will also continue to support its long-running online games Conan Exiles, Secret World Legends, Age of Conan, and Anarchy Online.

Casais points out that Tencent has a reputation for being a responsible long-term investor. Tencent is renowned for operational capabilities in online games. Having had Tencent as a majority shareholder since October 2019 has only reaffirmed that notion.

Steven Ma, Senior Vice President of Tencent, commented:

“We are impressed by Funcom’s strengths as a developer of open-world multiplayer, action and survival games. Funcom has a strong track-record in developing new titles with long life span.

We are glad to deepen our relationship with Funcom. We look forward to collaborating with Funcom to deliver more exciting and enjoyable game experiences to fans worldwide”.

Press Release

Funcom Was Founded in 1993

However, recent years have been the most successful and profitable in the company’s 27-year history. This is following the success of online survival game Conan Exiles.

In addition to various projects, Funcom is currently developing an open-world multiplayer survival game based on Frank Herbert’s Dune.

In connection with Tencent’s voluntary offer, Funcom management has decided to publicly announce several strategic and operational matters. Management intends to increase the ambition level of the upcoming Dune game pending board approval. For more information regarding investment, please visit Funcom.com.

For information on Funcom, visit their website. Or for information on any of their IPs, check out the various associated websites, including;

Conan Exiles, Secret World Legends, Anarchy Online, Dreamfall, The Park, and Age of Conan.


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