Tencent Continues Europe Deal Spree With $260 Million Investment in Czech Game Studio

Chinese game giant Tencent has bought a stake of between 70% and 80% in Czech Republic–based videogame developer Bohemia Interactive for around $260 million, according to a person familiar with the matter. The investment is the latest in a string of deals Tencent has made in Europe to bolster its overseas videogame business amid tighter regulations in China.

It also comes as the Covid pandemic has given a lift to gaming, which accelerated Tencent’s gaming revenue growth to 31% in the first quarter, faster than its annual pace last year of 10%. Tencent declined to comment. Bohemia didn’t immediately respond to a request for comment.