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Tencent becomes the majority shareholder of the Spanish Tequila Works

Tencent has once again gone shopping in the game development studio sector, and this time he has come to Spain to become the majority shareholder of Tequila Works, a Madrid-based studio currently working with Riot Games on Song of Nunu: A League of Legends Story. Coincidentally, Riot Games is owned by Tencent.

The terms of the agreement between the two companies are unknown, so it is not known how much percentage of Tequila Works shares Tencent has kept, nor what it has paid for them. The studio, founded in Madrid in 2009, has developed titles such as TiME, Deadlight or The Invisible Hours, and as stated its CEO, Raul Rubioin a statement, having Tencent as the majority shareholder will give them the means they need to advance to the next level in game development.

Thus, Rubio points out that «For 12 years, the teams at Tequila Works have passionately created high-quality titles that radiated our personal sensibility. But there’s a limit to how much you can grow on your own”. Rubio assures that thanks to their alliance with Tencent they will have respect for their independence and will continue to have creative freedom, which will allow them to focus on the development of their original IPs.

The Tequila Works Administrator, Luz Sanchohas highlighted that their alliance with Tencent will allow them to make the studio stronger, and get it to have access «to all the necessary resources to produce higher quality titles, all made with the same love and passion for what our beloved community knows us«. Apart from this, Sancho also points out that thanks to the entry of Tencent into his shareholding they will be able to «bring these projects to a growing audience».

While other technology companies have made several high-level purchases in the world of video games, as Microsoft has done with ZeniMax Media and Activision-Blizzard, Tencent has opted for a more discreet profile when adding game studios and developers to its portfolio. of companies and companies in the sector in which it invests. Only in 2021 it invested in more than 100 companies related to the sectorin addition to making seven purchases in the game creation studio sector, including Turtle Rock Studios.

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