Tencent Acquires Majority Stake in Wuthering Waves’ Kuro Games

Tencent, the Chinese tech giant, has significantly increased its investment in Kuro Games, the developer behind the popular titles Wuthering Waves and Punishing: Gray Raven. This move grants Tencent majority ownership.

Tencent's Expanded Stake in Kuro Games

Tencent's acquisition of an additional 37% stake in Kuro Games elevates its total shareholding to 51.4%. This surpasses the 50% threshold, giving Tencent controlling interest and making it the sole external shareholder. This follows an initial investment made by Tencent in 2023.

Maintaining Independence

Despite Tencent's majority ownership, reports from a Kuro Games insider to the Chinese news outlet Youxi Putao suggest Kuro Games will retain operational independence. This mirrors Tencent's approach with other successful game studios like Riot Games (League of Legends, Valorant) and Supercell (Clash of Clans, Brawl Stars). Kuro Games' official statement emphasizes this acquisition will foster a "more stable external environment" and support its long-term independent strategy. Tencent has yet to publicly confirm the details.

Kuro Games' Success

Kuro Games has achieved notable success with both Punishing: Gray Raven and Wuthering Waves. Each game 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.