Tencent Acquires ByteDance's Gaming Projects Amid Industry Shake-up

In a strategic move, Tencent has taken over several of ByteDance's discontinued gaming projects, marking a significant consolidation in the gaming industry.

• Tencent Holdings, the world's largest video gaming company by revenue, has acquired some of ByteDance's abandoned gaming projects.
• The acquisition includes projects from ByteDance's Gravity Studio in Shenzhen and Jiangnan Studio in Hangzhou, focusing on anime titles.
• A new company named Saluosi, wholly owned by Tencent, has been established to manage the acquired projects, with former ByteDance employees joining the venture.
• The gaming industry in China is undergoing consolidation due to economic pressures and regulatory uncertainties, with Tencent and ByteDance at the forefront of this trend.
• Tencent's acquisition comes after ByteDance decided to exit the gaming market, following a series of layoffs and project cancellations.

3 Articles

South China Morning Post GamesIndustry.biz Reuters