Tencent Acquires Minority Stake in Playtonic Games - News

by William D'Angelo , posted on 18 November 2021 / 1,422 Views

Playtonic Games announced Tencent has acquired a minority stake in the developer.

The developer will keep full creative control over its IP and will use the investment to scale from one team to multiple teams, with a focus on hiring diverse talent. The money will also be used to improve the studio's headquarters and look to expand in new locations.

"Six years ago we built a cool, exciting rocket ship, set a course we think is right and exciting," said Playtonic founder Gavin Price. "We are thrilled that Tencent agrees with that course and has provided some rocket fuel to further the reach of our mission!

"The countdown to today has included (deep inhale)… our record breaking Kickstarter for Yooka-Laylee, growing the buddy-duo’s reach with the acclaimed Yooka-Laylee and the Impossible Lair, establishing Playtonic Friends and the successful launch of its first three titles – BPM: Bullets Per Minute, A Little Golf Journey and Demon Turf, signing 3 further incredible beauties in Lil gator Game, Victory Heat Rally & Blossom Tales 2 – The Minotaur Prince, and all the while still being cool (ask our parents)!

"BUT with Tencent’s help we can scale up and fast-track the super-exciting, super-secret projects we’ve been keeping close to our treasure chests too… things are going to get Bat Ship Crazy over the next few years! Please imagine a wink emoji right now."

Head of Publishing at Playtonic Danny Spiteri added, "It’s been less than a year since Playtonic Friends was unveiled but, it’s fair to say, it’s made quite an impression in a relatively short space of time. The array of titles that’s already been published is quite something and I’m excited to see how I can add wind to the sails to help us build on the momentum we’ve already amassed to power us into 2022."

A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. You can contact the author at wdangelo@vgchartz.com or on Twitter @TrunksWD.