Tencent has been consistently making headlines in recent months with its continuing expansion in the gaming industry through acquisitions and investments. Recent acquisitions include the developer behind Ninjala, and it also confirmed a minority shareholding in Playtonic Games last November. Those are just recent examples, while Tencent is also notably partnered with Nintendo for Switch distribution in China and developed Pokémon Unite.
Its latest acquisition is Tequila Works, the Madrid-based studio that's perhaps best-known for RiME. In terms of Switch games the company is also known for The Sexy Brutale, while it's also working on the rather promising Song of Nunu: A League of Legends Story.
Unlike the Playtonic Games minority investment this is a takeover, with Tencent picking up a majority shareholding. In the press release the developer's Chairwoman Luz Sancho says it "allows us to make Tequila Works a stronger studio with access to all the resources required to produce titles of the highest quality".
CEO Raúl Rubio is also quoted as saying the following:
They’re a partner that can appreciate the value of top creative talent with originality as their banner. One that respects our independence and creative freedom. This partnership will allow us to focus on taking the original IPs we are known for to greater heights and create the best experiences we can dream of.
Tencent is continuing to expand its portfolio of companies and investments, making it an increasingly significant presence in the global gaming industry.
Comments 20
Now they can make a very creative cocktail...
Another studio bikes the dust. We will miss you...
Huh, not an acquisition I'd expect. I'd bet it's less about the company itself and more about "Hey people are getting really excited about acquisitions right now... hehe let's buy something."
"Allows us to make Tequila Works a stronger studio"
RonBurgundyIDontBelieveYou.gif
@FroZtedFlakerZz For them, it's a relatively small investment in a studio that has the potential to produce something very special. For these small developers, it's a huge amount of money that enables them to do bigger and better things.
It's depressing that Tencent seem to be swallowing up so many of these small developers, though. It's taking away what is special about indie games.
Really wanted Rime when first advertised, but the physical never happened and the reviews were awful, so never got it
Oh well. Never did really gel with RiME so personally not exactly mourning their loss but still never nice to see.
I played Rime. The first 2-3 hours was a slog, but then it got cool. Some of those puzzles I had to youtube. I got to the very last level and got lost.
Man, that sucks. They were one of the more talented indie devs in the industry.
Pretty much a reminder as to the motivations behind Microsoft and Sony acquisitions...
Still surprised they did Unite and it's legit f2p without being at any disadvantage, just costumes. Still have enough coins for 2 Pokeman licenses...now if only they'd release any I've actually heard of.
I’m looking forward to Song of Nunu, despite never playing LoL, Tequila Works seem to have found their groove and I really hope them being acquired does help.
@Bunkerneath There was a physical for Switch (US and PAL). Unfortunately, the game is not very good nor technically proficient, so that revelation may be largely moot.
I was so looking forward to Rime. It looked beautiful and had so much potential but it ran like ass on the Switch which is a real pity.
@ModdedInkling
Hence why I call this all heat death, it won’t stop until nothing is left to acquire, big studios could survive under this but the Tequila Works of the world will be chewed up and spat out when they aren’t useful and what Tencent likely considers useful is the polar opposite of what Rime is.
That's a "yikes".
No bueno.
RiME was amazing, and I heard good things about The Sexy Brutale. But the performance of both on the Switch was lacking. I only hope that this buyout helps them optimize their games better.
Farwell Tequila!
I was just thinking today how'd I'd like to have more personal data points entered into the Chinese Communist Party database. Lo and behold it found me. Again.
And another developer to avoid.
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