What does $330m get you? 40% of developer Epic

MCV Staff 22nd March 2013 Business News

Chinese web giant Tencent paid $330 million for a 40 per cent stake in Epic Games in July last year, the company has revealed.

Initially announced as acquiring a minority stake” in the Gears of War developer last July, Tencent has now disclosed the full details of the investment in its latest financial report.

The $330 million acquisition represented 48.4 per cent of its then issued share capital, which is around 40 per cent of total capital.

The deal means that Tencent has the right to nominate directors to the Epic Games board.

Sister site Develop has the full story.

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