Tencent expands overseas presence with launch of new game studio in US

FILE PHOTO: A sign of Tencent is seen during the third annual World Internet Conference in Wuzhen town of Jiaxing, Zhejiang province, China November 16, 2016. REUTERS/Aly Song/File Photo

Tencent Holdings, China’s biggest social media and video game company, launched a new California-based studio this week, as it looks to further expand its presence overseas.

The new studio, LightSpeed LA, will be led by former Rockstar veteran Steve Martin and will focus on the development and publishing of AAA titles, Tencent Games’ LightSpeed and Quantum Studios said in a statement to Reuters.

“We’re ushering in a new era of game culture by combining world-class development with a stress-free work environment,” Martin said in the statement.

Tencent is trying to build an array of studios overseas with the goal of creating content with original intellectual property that has global appeal.

The launch is also the firm’s latest move in a strategy to derive half its games revenue from overseas, a category that accounted for about 23% of its fourth-quarter online game sales.

The company has most recently hired Halo 4 lead designer Scott Warner to head another newly-minted new studio grouped under TiMi Studios, the maker of Arena of Valor and Call of Duty: Mobile.

Tencent is also the owner of League of Legends creator Riot Games, and has majority control of Clash of Clans maker Supercell.

The new studio in Orange County has hired creative talent from Rockstar Games, Sony VASG, Respawn Entertainment, 2K Games, and Insomniac.

Last week, Tencent unveiled plans for more than 40 game products, from a release of Mobile Dungeon & Fighter to an unnamed Metal Slug mobile game in partnership with SNK Corp.

It also announced a cross-platform Pokemon team battling game running on Nintendo Co Ltd’s Switch console and on mobile.

Shares of Tencent Holdings soared more than 8% this week to a historic high of HK$521 after the announcement of the new games.

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.