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Tencent Acquires Back 4 Blood Developer Turtle Rock Studios!

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Tencent announced their most recent acquisition of Turtle Rock Studios’ parent company Slamfire, Inc, which includes Turtle Rock in the deal.

Per Game Informer, the Left 4 Dead and Evolve developers will remain an independent operation at its current Lake Forest, California office. It was also noted that despite the studio’s most recent release Back 4 Blood, which was published by Warner Bros. Games, the game and its continued development will not be affected.

Steve Goldstein, president, and general manager of Turtle Rock had this to say about the acquisition, “Tencent’s outstanding partners, global reach, deep knowledge of gaming and unprecedented support will help us create the kinds of ambitious games we dream of while allowing us to retain our autonomy and independent spirit.”

Tencent, for the uninitiated, is a massive Chinese holdings company that has investments all over the video game landscape. Here are some other companies you may or may not know that Tencent has a stake in:

  • Riot Games
  • Epic Games
  • Ubisoft
  • Activision Blizzard
  • Paradox Interactive
  • Sumo Group
  • Remedy Entertainment
  • Roblox Corporation
  • Bloober Team
  • Funcom
  • Dontnod Entertainment
  • Marvelous
  • Klei Entertainment

There are many more as well. The names that were listed represent anywhere from 100% ownership in the case of Riot Games to a small stake like Tencent’s 5% ownership in Ubisoft. With this newest acquisition of Turtle Rock and Slamfire, Tencent is bolstering its gaming portfolio even further with the veteran development talent.

No sale price was given at the time this story was written, nor were any details of any new games Turtle Rock may be working on past its current responsibilities regarding Back 4 Blood.

Make sure you follow Gamactica Portals to keep up to date with Tencent’s most recent acquisition.

 

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Labor Board Says Activision Blizzard Illegally Threatened Staff

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Activision Blizzard

The United Sates National Labor Board says that Activision Blizzard, the publisher behind such games as Call of Duty and Overwatch, illegally threatened staff and enforced a social media policy that conflicts with workers’ rights, according to Bloomberg.

This yet another negative mark on the company, and comes following a complaint filed with the NLRB filed against Activision Blizzard that claims employees were being threated for discussing wages and working conditions via the company’s internal Slack channel.

If Activision Blizzard does not settle this issue, the company will receive a formal complaint from the National Labor Relations Board’s regional director in Los Angeles.

 

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Take-Two Interactive Acquires Zynga

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take two interactive

Take-Two Interactive has officially completed it’s acquisition of mobile studio Zynga, following shareholder approval from both parties being completed last week.

With the acquisition, Take-Two now owns all outstanding shares of the company for approximately $12.7 billion, in what that company is describing as a “pivotal step” in their plans to expand their mobile side of offerings..

“We are thrilled to complete our combination with Zynga,” Take-Two chairman and CEO Strauss Zelnick said in an official announcement. “As we bring together our exceptional talent, exciting pipelines of games, and industry-leading technologies and capabilities, we believe that we can take our portfolio to another level of creativity, innovation, and quality.

“We are eager to continue building an unparalleled portfolio of games that will reach broader markets and lead to continued growth for this next chapter of Zynga’s history” Zynga CEO Frank Gibeau said.

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Tencent Releases Q1 Financial Results, Gaming Accounts for 32% of Revenue

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Tencent

Chinese tech juggernaut Tencent has released it’s Q1 financial results, which ended on March 31st, and show a reported total revenues of RMB 135.5 billion ($21.3 billion), which is in-line with the $20.2 billion reported back in Q1 of 2021.

Additionally, Games account for 32% of Tencent’s $21.3 billion in revenue.

According to GamesIndustry.biz, Tencent profits are down 52% from RMB 23.7 billion ($3.7 billion), operating profit was down 15% year-on-year to RMB 36.5 billion ($5.8 billion). Operating margin decreased from 32% in Q1 2021 to 27%.

In regards to Tencent’s gaming side of the business, the revenue for domestic titles (those in China) sow a slight dip of 1%, attributed to “direct and indirect effects” of measures implemented in China to protect minors from excessive gaming.

Titles such as League of Legends: Wild Rift and Fight of The Golden Spatula saw a rise in revenue, but were offset by the declines in Call of Duty Mobile, among other titles.

In regards to titles outside of the market in China, gaming revenue spiked 4% year-on-year to RMB 10.6 billion ($1.6 billion), largely due to the success of Valorant and Clash of Clans, but Tencent did report a decline in revenue from PUBG Mobile, explaining “as user spending normalized post-COVID.”

Domestic games accounted for 24% of the company’s total quarterly revenues, slightly down from 25% in Q1 2021, with international games accounting for 8%, a rise from 7%.

Read more, including comments from Chief strategy officer James Mitchell, over at GamesIndustry.biz.

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