Tencent is close to complete the acquisition of a majority equity interest in Byment, while genetic technology firm Jabrehoo has raised nearly 100 million yuan ($14 million) in a Series B round of financing.
Tencent to acquire majority stake in animation firm Byment
Tencent is close to completing the acquisition of a majority equity interest in Byment, a Chinese provider of animation creation and production services, said the company in a WeChat post on August 9.
The Chinese social media and gaming giant plans to acquire the shares from a consortium of nine shareholders, including Hong Kong-listed Chinese internet content and service firm BAIOO Family.
BAIOO Family agreed to sell a 31.2 per cent stake in Byment to Linzhi Lichuang Information Technology, an investment entity of Tencent, for 124.8 million yuan ($18 million), said the Hong Kong-listed firm in a filing with the stock exchange. The transaction will value all shares of Byment at 400 million yuan ($58 million).
“Byment’s affluent animation IP assets will further strengthen Tencent’s advantages in IP development, which will boost Tencent-branded movie and gaming businesses,” said Zou Zhengyu, general manager of Tencent Interactive Entertainment’s animation business, in the post.
In May 2019, Byment secured tens of millions of yuan in a Series A round from Tencent.
Jabrehoo raises $14m Series B round
Jabrehoo, a Chinese genetic technology firm that focuses on assisted reproduction, has raised nearly 100 million yuan ($14 million) in a Series B round from the country’s healthcare-focused fund Apricot Capital.
Founded in June 2011 and fully known as Peking Jabrehoo Med Tech Co Ltd, the company provides integrated next-generation sequencing services to assisted reproductive centres in China. Its products and services include genetic testing equipment, consumables, diagnostic reagents, and medical bioinformatics platforms.
Jabrehoo previously completed an investment from the Chinese healthcare investment specialist GTJA Investment Group in April 2018. Financial details of the round were not disclosed.