Tencent, China’s largest integrated online company and also the #1 game company in the world, has just made an investment that should see even more growth in the mobile game market.
The company has invested $500 million for a 28 percent stake in South Korean gaming company CJ Games. As a result, it will acquire the Netmarble game portal, and help strengthen its hold on the online and mobile game markets.
This move is the latest for Tencent, an attempt to compete against Alibaba as it prepares for its debut on the U.S. stock market through public shares.
This is following a 15 percent purchase in JD.com, as well as a $195 million purchase in logistics firm China South City.
Source: TechCrunch
