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Tencent, SIE Acquire 30.34% Stake in FromSoftware
posted on by Kim Morrissy
Kadokawa announced on Wednesday that Hong Kong-based Tencent subsidiary Sixjoy and Sony Interactive Entertainment have jointly acquired a 30.34% stake in game developer FromSoftware (Elden Ring, Sekiro: Shadows Die Twice, Dark Souls). Sixjoy Hong Kong will own 16.25%, while SIE will own 14.09%. Kadokawa will retain a 69.66% majority stake in FromSoftware.
Sixjoy will buy 1,703 shares for 11,450,000 yen (about US$82,533) per share, and SIE will buy 1,476 shares, for a total of 3,179 shares for about 36 billion yen (about US$262 million). The transaction is expected to take place between September 7 and 12.
The funds will be used to "strengthen FromSoftware's capabilities to create and develop game IP" and "establish a framework that allows expansion of the scope" of FromSoftware's own publishing in the global market.
Tencent announced in October 2021 that it would acquire a 6.86% stake in Kadokawa. Kadokawa stated that it will enter an agreement with Tencent Group for the anime business "to further promote the company's IP-based Global Media Mix," and "to form a capital alliance with Tencent Group." The company will invest the entire proceeds in content by March 2024. This includes securing editors and producers.
Tencent Holdings, anime planning and production company Twin Engine (production for Vinland Saga, Dororo, Pet), Mecha Comic digital service operator Amutus Corporation, and BookLive announced on Monday that they have entered into a capital tie-up.
Source: Press Release via Gematsu
