Tencent, the Chinese tech giant, has significantly increased its stake in Kuro Games, the developer of popular mobile games Wuthering Waves and Punishing: Gray Raven. This acquisition gives Tencent majority control.
Tencent's Majority Stake
Tencent now holds approximately 51.4% of Kuro Games' shares, following a recent acquisition of roughly 37% additional shares. This makes Tencent the sole external shareholder and grants them controlling interest. This follows an initial investment made in 2023.
Maintaining Independence
Despite Tencent's majority ownership, Kuro Games assures continued operational independence. Internal sources, as reported by Youxi Putao, suggest a model similar to Tencent's relationships with Riot Games (League of Legends, Valorant) and Supercell (Clash of Clans, Brawl Stars). Kuro Games' official statement emphasizes that this move will foster a "more stable external environment" and support their long-term independent strategy. Tencent has not yet publicly commented.
Kuro Games' Success
Kuro Games has achieved notable success with both Punishing: Gray Raven and Wuthering Waves. Each title has reportedly generated over $120 million USD in revenue and continues to receive regular updates. The recognition of Wuthering Waves with a Players' Voice nomination at The Game Awards further underscores the studio's achievements.
