Tencent Buys a 16% Stake in Game Developer Pathea

October 9, 2019 1:05 pm

Beijing (PingWest)- Chinese internet giant Tencent, which operates the ubiquitous Wechat social messaging app, has bought a 16% stake in Phathea Games, Chinese media outlet Caijingtuya reported on Wednesday.

At the time of publication, the financial details of the deal could not be learned.

Pathea Games, which was founded in 2010, has developed popular game titles for PC, console, and mobile. Some titles such as My Time at Portia is available on Steam. Pathea Games is headquartered in Memphis, USA, with an office in Chongqing, China. 

Tencent booked a revenue of CNY88.8 billion in the second quarter of 2019, of which CNY27.3 billion (Roughly 30% of the total revenue) was generated by online games.