Tencent Acquires Majority Stake in Kuro Games of Wuthering Waves

In a recent development, Chinese tech giant Tencent has reportedly taken control of a majority share in Kuro Games, the developer behind Wuthering Waves and Punishing: Gray Raven. This strategic move raises questions about what lies ahead for both companies. Let’s break it down.

Tencent Increases Stake to 37% in Kuro Games

Consolidating Control with Over Half of Total Shares

Tencent has acquired approximately 37% of shares from Kuro Games, bringing its total stake to 51.4%. With this acquisition and the departure of two other shareholders, Tencent now holds a controlling interest in the company, becoming the sole external shareholder. The tech behemoth initially invested in Kuro Games in 2023, and its influence has steadily grown since then.

Despite the change in ownership structure, a source within Kuro Games told Chinese news outlet Youxi Putao that the studio will continue to operate independently. This model mirrors Tencent's relationship with other successful studios such as Riot Games (developers of League of Legends and Valorant) and Supercell (creators of Clash of Clans and Brawl Stars).

Kuro Games stated in an official release that this shift is intended to provide a “more stable external environment” and aligns with their strategy for long-term sustainable growth. Tencent has not yet released an official statement regarding the transaction.

Kuro Games is a prominent Chinese game development studio known for titles like the action RPG Punishing: Gray Raven, and its latest open-world RPG hit Wuthering Waves. Both games have been commercially successful, each generating over $120 million USD in revenue. Ongoing updates continue to keep the player base engaged. In fact, Wuthering Waves recently earned a nomination for Players’ Voice at the upcoming Game Awards.