Tencent, the Chinese tech giant, has significantly increased its investment in Kuro Games, the developer behind the popular titles Wuthering Waves and Punishing: Gray Raven. This move grants Tencent majority ownership.

Tencent's Increased Stake in Kuro Games

Tencent's acquisition of an additional 37% stake brings its total ownership to 51.4%. This surpasses the threshold for majority control, making Tencent the sole external shareholder. This follows an initial investment made in 2023.

Despite this significant investment, Kuro Games assures continued operational independence. The company cites a desire for a more stable external environment, supporting its long-term independent strategy. This model mirrors Tencent's relationships with other successful game developers, including Riot Games and Supercell. Tencent has yet to publicly comment on the acquisition.

Kuro Games' Successful Portfolio

Kuro Games has established itself as a prominent player in the mobile gaming market. Punishing: Gray Raven and Wuthering Waves, both action RPGs, have each generated over $120 million in revenue. The continued success of these titles is demonstrated by their ongoing updates and recognition, with Wuthering Waves earning a Players' Voice nomination at The Game Awards.