Tencent acquires minority stake in Funcom

Chinese gaming giant Tencent has acquired a 29% stake in Conan Exiles developer Funcom.

Acquiring the shares from KGJ Capital AS, Tencent is now the largest shareholder of the Norwegian developer.

After years of working on original properties, Funcom has recently branched out into publishing with games like Mutant Year Zero: Road to Eden.

The developer has also found notable success working with licensed properties such as Conan, and recently announced it is developing an open world game based on Dune.

"We are very pleased to see Tencent come in as the largest shareholder of Funcom," said Funcom CEO Rui Casais.

"Tencent has a reputation for being a responsible long-term investor, and for its renowned operational capabilities in online games.

"The insight, experience, and knowledge that Tencent will bring is of great value to us and we look forward to working closely with them as we continue to develop great games and build a successful future for Funcom."