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In a recent development in gaming industry, offsetting the odds of pandemic outbreak, China based game streaming company DouYu International and Huya are moving ahead with advanced business talks for a probable merger.
Sources opine that the merger is being backed big time by Tencent Holdings which is touted to be holding a total stake of $ 10 billion.
Sources well aware of the ongoing developments have disclosed on grounds of anonymity that Tencent Holdings currently owns a total of 37% and 38& in Huya and DouYu respectively and is aspiring to become the largest and the most significant shareholder in the combined entities post merger.
The merger if finalizes is likely to push the game streaming platform business in China to a whopping 300 million user empire.
Besides the aforementioned stakes, Tencent further purchased an additional stake of US$ 260 million. This development is dated last April and the commercial agreement happened with Joyy Inc.
Further legitimate sources have also suggested Tencent’s active partnerships with various countries to pursue hassle-free gaming strides with countries such as Turkey.
With COVID-10 pandemic restricting mobility, prolonged home stays have accelerated the demands for digital entertainment and gaming industry is likely to foresee a healthy growth trajectory in the coming years.
Turkey based gaming company, a new entrant in the industry, Peak Games has signed a recent acquisition deal with USA’s Zynga.
If sources are to be believed, China’s internet veteran, Tencent Holdings has recently completed its acquisition of Turkey’s gaming company Masomo, fueling Turkey’s gaming investments to a record $2.4 billion spike.
These ongoing developments surely solidify Tencent’s position and growing stance in the gaming industry, paving way for novel mergers and acquisitions to unravel new opportunities in the gaming industry amidst global pandemic.