Tencent’s stake in Remedy Entertainment has grown significantly of late, and it remains to be seen when the Chinese tech giant will get to the point of buying the Finnish company outright…
Tencent first bought into Remedy in May 2021, when the Chinese company took a 3.8% stake. In November 2022, it increased that stake to 5.01%. A year and a half later, it had risen to 14.8%, giving Tencent just over two million shares in the Finnish studio. With the percentage set to grow exponentially, Tencent could be the majority owner next time around. Tencent will be the publisher of a Remedy game, currently codenamed Kestrel, which is in the concept stage after a reboot last year.
Tencent has delayed Assassin’s Creed: Jade, according to Reuters sources. The mobile game could see its launch pushed back to 2025 instead of 2024, after a few hundred developers were reassigned from the free-to-play project as part of a broader strategic shift. That strategy may be seen in the fact that Tencent has essentially tripled its stake in Remedy in a year and a half.
Remedy has confirmed that the status of their game, codenamed Condor, has been changed to full development, which is the final stage of development before release. Internal playtesting has shown that the gameplay loop keeps players engaged and the game brings a unique Remedy flavor to the genre. This is the Finnish studio’s first step into live service projects. It has an initial budget of 25 million euros and runs on the proprietary Northlight engine. It will not be a free-to-play game, but a “fixed-price” product, and Remedy says that these “premium” games will initially be available at a lower price, but will generate revenue over the long term through updates, content upgrades, and even microtransactions.
Meanwhile, Remedy Entertainment is working on other projects. These include the sequel to Control and the Max Payne 1 & 2 Remake. So the developers are pretty much tied up.
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