Polish game developer and publisher company 1C Entertainment announced that they have been acquired by Tencent.
Both companies did not disclose the deal value, but they said the deal was closed in November 2021. The deal includes Tencent taking all shares of 1C, which was formerly the parent company of 1C Entertainment.
According to the terms of the agreement, 1C Entertainment agrees that its own name and subsidiary companies with 1C in their names will be renamed within 6 months of the deal’s completion. 1C Entertainment said they will share all details about rebranding with the public opinion soon.
1C Entertainment said they are looking forward to joining the Tencent family. Tomasz Nieszporski, the 1C Entertainment management board member, made a statement on their website.
We are truly excited by this deal. It is an amazing opportunity for 1CE to achieve our wildest dreams and aspirations in the video games business. Our vision and passion will be now backed by a leading global games company, and I am humbled by the unique chance of working together with Tencent and the other top creative minds that are part of its global ecosystem.Tomasz Nieszporski, the 1C Entertainment management board member
Tencent said they are happy to support them in a new phase of growth. In January, Tencent sold some of its shares to Sea Group. After this deal, Tencent raised 3 billion dollars. However, the acquirement was already done in November and Tencent seems happy for now.
We couldn’t be more pleased to work with the talented team at 1C Entertainment, supporting them as they embark on a new phase of growth.Li Shen, Tencent Games Global Chief Technology Officer