Tencent
Tencent and TME Invest in GMM Music, Eyeing Southeast Asian Market Expansion
June 04, 2024 – According to Reuters, Thai entertainment company GMM Music announced on Monday that Tencent and Tencent Music Entertainment (TME) will acquire a 10% stake in the company for $70 million. The acquisition, which values GMM Music at $700 million, will be made through a combination of cash and a minority equity stake…
Japanese Game Developer Key’s Parent Company, Visual Art’s, Acquired by Tencent
July 27, 2023 – Visual Art’s, a prominent Japanese game company, made a surprising announcement today. Their long-standing president, Takahiro Machiba, declared his retirement and transferred his shares to Tencent, effectively making Visual Art’s a subsidiary of the Chinese tech giant. As part of this strategic move, the renowned “Key” brand will also fall under…
Tencent Shareholder Prosus and Parent Company Naspers to Cut 30% of Workforce
Dutch technology investment company Prosus and its South African parent company Naspers have announced that they will be cutting 30% of their workforce at their offices worldwide. This move comes as the company aims to focus on specific areas and reduce costs. A spokesperson for Prosus stated, “We are adapting to changes in the macro…