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Tencent Acquires Two ByteDance Gaming Studios

A new studio called Saluosi is founded.

Tencent apparently acquires two ByteDance-owned video game studios, one in Shenzhen (most likely Gravity Studio) and another in East China. The news first appeared on Reuters, where it was stated that the source is not permitted to speak to the media. The person who claimed to have revealed the major news is intimately involved with the situation. However, it is unclear when the takeover occurred.

ByteDance stepped down from the industry last year, was looking for potential buyers

While ByteDance and Tencent have yet to comment on the acquisition, the former business exited the gaming market last year. ByteDance, the firm behind the famous video-sharing app TikTok, was seeking contracts with other game companies to sell its gaming assets, including unreleased games in development. Since then, several negotiations with Tencent and other corporations have taken place.

However, during the takeover, the acquired firms were working on distinct titles. The Shenzhen-based studio was working on an action game, while the other was producing an anime title.

Tencent takes over ByteDance games studio to form “Saluosi”, a Shenzhen-based company

Because the takeover comprises two studios, both have formed a new Shenzhen-based firm called “Saluosi”. Tencent Investment Company is behind the new studio. Further information about the project on which the new studio is engaged is not available. ByteDance’s biggest surprise came after launching Nuverse and acquiring MOONTON. However, recent conversations indicate that MOONTON may possibly be released. It would not be surprising if Tencent took that as well.

ByteDance was highly invested in the gaming business and aimed to compete with giants such as Tencent Holdings and NetEase. In October 2020, the company launched Danjuan Games, a mobile-exclusive game platform. But long before that, the corporation chose to enter the industry in 2015, establishing its first subsidiary in 2017. Nuverse is a well-known subsidiary of ByteDance that owns the company’s primary titles, including Marvel Snap, Earth: Revival, and One Piece: The Voyage.

Tanvir
Tanvir
Staff Writer & Game Analyst. EEE, University of Dhaka
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