Tencent has launched a bid to acquire all shares in Funcom, in a deal that values the Norwegian online developer at around $148 million.
The Chinese firm is already the single largest shareholder in Funcom, following the acquisition of 29% of its stock in September last year. However, Tencent now wishes to acquire all remaining shares -- a prospect that has been welcomed by Funcom's management team.
"We have had a great relationship with Tencent as our largest shareholder so far and we are excited about this opportunity," said Funcom CEO Rui Casais in a statement. "Tencent will provide Funcom with operational leverage and insights from its vast knowledge as the leading company in the game space."
Tencent is offering NOK 17 per share, which is 27.3% higher than the price at the close of trading on January 21, 2020. The offer values Funcom at NOK 1.33 billion ($148 million).
Funcom is also working on DUNE on top of Conan Exiles post-launch support