Tencent Is Exclusively Negotiating With Leyou To Buy Them Out

Tencent is gobbling up video game development studios left and right and is continuing to expand their presence in the gaming industry. Yesterday, we reported that the Chinese entertainment and technology giant had fully-acquired Norwegian studio, Funcom. Now, it looks as if Leyou Technologies will also be joining the mega corporation.

A few weeks ago, Sony announced their plans to acquire the Hong Kong-based video game holding company but Tencent has apparently taken over the deal. “Leyou and its controlling shareholder, Charles Yuk, have entered into an exclusivity agreement with Tencent Mobility Limited, a Tencent subsidiary,” Leyou said in an article on CNBC. According to CNBC, Tencent Mobility is planning to buy all of the holding company’s shares and take it private.

Leyou’s subsidiaries include Warframe developer Digital Extremes, and Athlon Games who are currently working with Amazon Game Studios to release a new Lord of the Rings MMO.