Tencent to acquire Xiaomi’s Black Shark for USD 470M, says report

Tencent Games reportedly plans to acquire Xiaomi‘s BlackShark Gaming division in a deal worth approximately CNY 3 billion, or over USD 470 million.

Tencent Games is the video game publishing division of Tencent Interactive Entertainment.

According to reports, the gaming smartphone-making company will undergo a business transformation after the acquisition process is complete. Further, Black Shark as a brand would likely see an expansion once the deal is completed.

Gizmochina also reported that the acquisition seeks to step into the Metaverse. More so, the diversification process will reportedly grow to include VR (Virtual Reality) based technologies and devices. With that said, the software content for VR will be provided by Tencent, while Black Shark manufactures the hardware.

Previously, smartphone makers like ASUS and nubia partnered with Tencent for their gaming smartphones.

Breaking:
Tencent will acquire BlackShark Gaming part of xiaomi group in 3 billion yuan.#Tencent #BlackShark #Xiaomi pic.twitter.com/zcFLdSyG9C

— Abhishek Yadav (@yabhishekhd) January 10, 2022

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Sources: GSMArena, Gizmochina