Tencent Games Acquires 51% Stake in Kuro Games, Creators of Wuthering Waves

In a major shift within the gaming industry, Tencent Games has secured a controlling interest of 51.4% in Kuro Games. This acquisition includes the purchase of a 37.07% share from HK Hero Entertainment, making Tencent the exclusive external shareholder of Kuro Games.

Despite this transition, Kuro Games has confirmed that it will continue to operate independently. Following the acquisition, Hero Entertainment no longer retains any shares in Kuro Games. In an internal communication from Kuro Games, it was stated that Tencent Games has committed to maintaining the company's independent operational strategy, drawing inspiration from successful models like those of Riot Games and Supercell.

Since 2018, Hero Entertainment has been a supporter of the developers behind Punishing: Gray Raven and Wuthering Waves, while Tencent Games began making substantial investments in early 2023. Last year, Tencent held 14.33% of the company's shares, with the remaining 37.07% owned by HK Hero Entertainment and 48.59% by the Founding Team.

Back in March, there were speculations regarding Tencent Games acquiring a 51% stake in Kuro Games and investing in Hero Entertainment, although the ownership structure remained the same at that time. However, those rumors have now proven to be accurate.

Kuro Games is optimistic that this partnership will provide stability and foster long-term growth. With Tencent Games' significant support and majority ownership of Kuro Games, there is anticipation for further innovations stemming from the success of Wuthering Waves, which fans are eagerly awaiting.