Tencent Bids $148 Million for Online Games

Tencent Bids $148 Million for Online Games Maker Funcom

Tencent Bids $148 Million for Online Games Maker Funcom

Tencent Bids $148 Million for Online Games Maker Funcom

China’s Tencent Holdings on Wednesday launched an offer of NOK 1.33 billion ($148 million) by computer game maker Funcom, which significantly lifted the shares of the Oslo-listed firm.

Funcom’s board and management unanimously endorsed NOK 17’s cash offering per share, a 27 percent premium at NOK 13.35’s closing price, the companies said in a joint statement.

Funcom shares rose 26.2 percent to NOK 16.85 at 0817 GMT.

Headquartered in the Netherlands, Funcom is the developer of a range of computer games that are played online or on other platforms, including adaptations of the Conan the Barbarian franchise.

Tencent, itself a major online gaming distributor, announced last September that it had taken a 29 percent stake in Funcom, making it the largest owner.

“Funcom has a strong track record in developing new titles with a long lifespan,” said Tencent’s senior vice president, Steven Ma.

Funcom management and staff will remain unchanged after the planned acquisition, the companies said.

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