Tencent, the Chinese tech giant, 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 control of 51.4% of Kuro Games' shares, making it the sole external shareholder.

Tencent's Expanding Portfolio

Tencent's initial investment in Kuro Games occurred in 2023. This latest move increases its ownership to approximately 37%, surpassing the 50% threshold for majority control. Interestingly, two other shareholders have reportedly withdrawn their stakes concurrently.

Maintaining Independence

Despite Tencent's significant ownership, Kuro Games assures its continued operational independence. This mirrors Tencent's approach with other successful game studios like Riot Games (League of Legends, Valorant) and Supercell (Clash of Clans, Brawl Stars). Kuro Games' official statement emphasizes that this acquisition will foster a "more stable external environment" and support its long-term independent strategy. Tencent has not yet released an official statement regarding the acquisition.

Kuro Games' Success

Kuro Games has achieved notable success with both Punishing: Gray Raven and Wuthering Waves. Each title has reportedly generated over $120 million USD in revenue and continues to receive regular updates. The recent nomination of Wuthering Waves for the Players' Voice award at The Game Awards further underscores the studio's accomplishments. This acquisition positions Kuro Games for continued growth and expansion under Tencent's umbrella.