China-based Tencent Holdings Limited will take a minority stake in Gears of War and Unreal Engine developer Epic Games. How much equity Tencent has taken was not disclosed, but Epic said in a press release that it will continue to operate "independently and seek to further expand its game franchises across multiple platforms."
The deal is expected to close in one month, subject to customary closing conditions. Terms of the deal were not disclosed.
"Tencent’s investment will empower Epic to help us do even more of what we do best, which is making great games and game technology. Their expertise in the global online gaming market is second-to-none, and the opportunity to work with them to bring richer experiences to players all over the world is irresistible," said Epic Games President Dr. Michael Capps. "Epic is excited to be full steam ahead on all of its current plans for this generation of games and the next, with the support of a fantastic partner that believes in our strategy and shares our dream."