Tencent reportedly looking to buy Crytek for over €300 million

We've known for a while now that Tencent is looking to acquire more game developers and according to reports this week, it may have its eyes on Crytek. Sources this week claim that Tencent is looking to acquire Crytek.

According to German news outlet, Bild, Tencent is looking to acquire Crytek via Proxima Beta Europe BV, a Tencent subsidiary company based in Europe. This is the same subsidiary that was used to invest in Dontnod Entertainment months ago. If Tencent is to acquire Crytek, it will be in a deal with more than €300 million.

Sources with knowledge of the situation do have some concerns though, as Crytek's CryEngine is not only used by game developers, but also armed forces in countries like Germany and the US for military simulation programs. There is some worry around whether Crytek could be used for non-commercial purposes.

Tencent has invested in many video game companies over the years, with a massive 40 percent stake in Epic Games, as well as investments in the likes of Ubisoft, and smaller developers like Remedy Entertainment.

KitGuru Says: Crytek has been in acquisition rumours for some time now, so it isn't hard to believe that Tencent is one of the interested buyers. Of course, there is always the chance that another company swoops in with a better offer.

 

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