By Sagar V. Mankar 
Tencent has officially acquired a 37% stake in Kuro Games from Hero Entertainment, bringing its total ownership to 51.4%. This move makes Tencent the sole external shareholder of the studio behind Wuthering Waves. While the financial details of the deal remain undisclosed, the acquisition solidifies Tencent’s influence over the growing game developer.
Kuro Games to Remain Independent Despite Tencent’s Control
Despite Tencent’s majority stake, Kuro Games reassured stakeholders and fans that it will continue to operate independently. In an internal memo (via Gematsu), the studio emphasized that its strategic direction remains unchanged, similar to Tencent’s hands-off approach with Riot Games and Supercell. Kuro Games believes Tencent’s investment will create a stable environment, supporting its long-term goals while maintaining creative freedom.
The Journey of Tencent and Kuro Games Collaboration
Hero Entertainment has supported Kuro Games since 2018, while Tencent began investing significantly in early 2023. Although rumors earlier this year hinted at Tencent increasing its ownership, the actual deal was finalized recently. This acquisition marks a pivotal point in their collaboration.
Kuro Games has seen significant success with Wuthering Waves, which launched in May 2024. According to AppMagic estimates, the game has earned over $180 million in gross revenue and over 30 million in downloads across the App Store and Google Play. Its success has also been recognized with awards, including the Best Audio/Visual Accomplishment at the Pocket Gamer Mobile Games Awards 2024. Additionally, the studio secured the 16th spot in the Top 50 Mobile Game Makers 2024 list.
Looking ahead, Version 2.0 of Wuthering Waves is set to launch on January 2, 2025, further enhancing the game’s experience on PlayStation 5, PC, and mobile platforms.
Tencent’s Expanding Gaming Portfolio
Tencent’s acquisition aligns with its broader strategy of strengthening its presence in the global gaming market. Alongside Wuthering Waves, Tencent is preparing to release its next major title, Light of Motiram, in 2025. This open-world survival crafting game will be available on PlayStation 5, PC, iOS, and Android platforms.
Source: Gematsu, AppMagic, Pocket Gamer.