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Tencent Acquires 20 Percent Stake in Shift Up

Tencent Acquires 20 Percent Stake in Shift Up - News

by William D'Angelo , posted on 16 December 2022 / 3,950 Views

Chinese technology giant Tencent has invested in Korean studio Shift Up by purchasing a 20 percent stake. Tencent is now the second largest shareholder of Shift Up, after studio founder Kim Hyung Tae.

Shift Up is known for mobile games Destiny Child and science-fiction RPG shooter, Goddess of Victory: Nikke. The studio is also working on the upcoming PlayStation 5 game, Stellar Blade.

Tencent subsidiary Level Infinite is the worldwide publisher of Goddess of Victory: Nikke. It launched in November for iOS and Android.

Stellar Blade is set to launch worldwide for the PS5 in 2023. It is published by Sony Interactive Entertainment.

Thanks, Gematsu.


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 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.


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16 Comments
LivncA_Dis3 (on 17 December 2022)

Yeah Sony gonna wait for the critics review and sales revenue before doing the pick me up on said studio just like what happened with returnal housemarquee

  • +1
DonFerrari LivncA_Dis3 (on 17 December 2022)

Yep, and I do believe they may already have a MOU with the steps, milestones and whatnot to prevent the studio thinking they are hot shit and increasing the price a lot because they had success.

  • +1
DonFerrari (on 16 December 2022)

So are they planning on making some money when Sony try to purchase the studio whole?

  • +1
Blood_Tears DonFerrari (on 16 December 2022)

Most likely that's the case. Keep in mind that Shawn Layden is now the strategic advisor for Tencent. So he has the experience of Sony now with the bank account of Tencent, a strong combo.

  • +2
pitzy272 Blood_Tears (on 16 December 2022)

Yes, very unfortunate and disappointing indeed.

  • +3
pitzy272 DonFerrari (on 16 December 2022)

Idk if Sony will do that, tho it seems like it would be a good pickup. Footage so far suggests a competent team. It’s just that Sony is so slow to acquire teams for their games alone.

  • +2
twintail pitzy272 (on 16 December 2022)

If Sony doesn't acquire them it'll be because of the harassment accusations that have been labelled at Shift Up, which included deleting an employee's work just because of her pro feminist views.

  • +1
Qwark pitzy272 (on 17 December 2022)

The game first needs to prove itself and Playstation can still hat a next instalment if they just buy the IP.

  • +2
DonFerrari Qwark (on 17 December 2022)

If it is still the same Sony from PS4 time it is quite likely the IP belongs to them

  • 0
Koragg Qwark (on 18 December 2022)

What do you mean hat the next instalment? They are already publishing the first... Does publishing a title count as hat?

  • 0
Qwark Koragg (on 18 December 2022)

Only if they aren't planning a sequel I guess. Though nothing wrong with paying a small studio what they need to grow and make games. Many smaller studios are happy to work for one if the big three since it means you get enough money to work and grow for a few years.

  • +1
DonFerrari pitzy272 (on 17 December 2022)

Considering how smaller teams they have absorved either after one "small" success or even during development, I think it is within expectation that they may do the same here and Tencent is reading the market and preparing to either win some money or partner more deeply with Sony.

  • 0
Blood_Tears DonFerrari (on 17 December 2022)

They're definitely interested in the same talent pool that's for sure. Tencent outbid them on the Leyou acquisition in 2020 and after Sumo Digital did LBP3 and Sackboy a big adventure Tencent acquired them. Tencent owns 40% of Epic and then Sony invested them recently. Then they both invested in From Software together 3 months ago. There's likely countless other examples of their cross business in mobile and what not. I am hoping Tencent does slow down a little bit on the full acquisitions going forward though and just stick to minority investment stakes. They have lost over 650 Billion in market value in the last year so maybe they can take a chill pill.

  • +1
Dallinor Blood_Tears (on 17 December 2022)

Being outbid on Leyou turned out to be a miracle in disguise for Sony. The company has been mired with a huge exodus of staff and cancelled projects since Tencent took over. It also lead to Sony going for Bungie, which seems like a far more talented studio and a better fit.

  • +2
Blood_Tears Dallinor (on 17 December 2022)

Very good point!

  • 0
Mystro-Sama (on 17 December 2022)

Tencent is a plague on the industry.

  • 0