Tencent, a leading Chinese technology company, has reportedly secured a majority stake in Kuro Games, the developer behind the popular mobile games Wuthering Waves and Punishing: Gray Raven. This acquisition gives Tencent a controlling 51.4% ownership, following a significant increase in its shareholding from an initial investment in 2023. Two other shareholders have reportedly withdrawn, leaving Tencent as the sole external investor.
Despite this majority stake, Kuro Games assures continued operational independence. This model mirrors Tencent’s relationships with other prominent game developers like Riot Games (League of Legends, Valorant) and Supercell (Clash of Clans, Brawl Stars). Kuro Games' official statement emphasizes that this strategic move fosters a more stable environment, bolstering its long-term independence strategy. Tencent has not yet publicly commented on the acquisition.
Kuro Games has achieved considerable success with both Punishing: Gray Raven and Wuthering Waves, each generating over $120 million USD in revenue. Wuthering Waves, a recently released open-world RPG, has even garnered a Players' Voice nomination at The Game Awards. This acquisition underscores Tencent's ongoing investment in the mobile gaming market and its strategic approach to fostering growth within its portfolio companies.
