Tencent Holdings Ltd. has acquired Turtle Rock Studios‘ parent company, Slamfire, Inc.
Following the deal, Turtle Rock will become a part of Tencent while continuing to operate independently with its existing team running all studio operations. The deal will not affect Turtle Rock’s upcoming game, Back 4 Blood, which will be published by Warner Bros. Games.
“We are huge fans of Turtle Rock’s games, especially their amazing approach to creating co-operative online games,” said Eddie Chan, chief strategy officer of Tencent Games Global. “We can’t wait to see what comes next, and we’re excited to be part of their future.”
“Tencent’s outstanding partners, global reach, deep knowledge of gaming and unprecedented support will help us create the kinds of ambitious games we dream of, while allowing us to retain our autonomy and independent spirit,” added Steve Goldstein, president of Turtle Rock.
Juno Capital Partners represented Turtle Rock as M&A and strategic advisor, Creative Artists Agency represented Turtle Rock as its talent agency and Straddling, Yocca, Carlson & Rauth and Kabealo Law acted as legal counsel for Turtle Rock in the transaction.