Tencent Acquires Controlling Stake in Wuthering Waves’ Developer, Kuro Games

Tencent, the Chinese tech giant, has reportedly secured a majority stake in Kuro Games, the studio behind the popular mobile games Wuthering Waves and Punishing: Gray Raven. This acquisition gives Tencent a controlling 51.4% ownership, making it the sole external shareholder.

Tencent's Increased Investment

Tencent initially invested in Kuro Games in 2023. This latest move, involving the acquisition of approximately 37% additional shares and the departure of two other shareholders, solidifies Tencent's position.

Maintaining Independence

Despite the significant stake, Kuro Games assures continued operational independence, mirroring Tencent's approach with Riot Games (League of Legends, Valorant) and Supercell (Clash of Clans, Brawl Stars). The company statement emphasizes that this shift will foster a more stable environment and support its long-term independent strategy. Tencent has yet to publicly acknowledge the acquisition.

Kuro Games' Success

Kuro Games has achieved notable success with both Punishing: Gray Raven and Wuthering Waves, each reportedly generating over $120 million USD in revenue. Wuthering Waves has even garnered a Players' Voice nomination at The Game Awards. This acquisition signals a significant vote of confidence in Kuro Games' future potential.