Skip to main content

Tencent acquired stake in Bluehole for global expansion

Tinuku - Tencent acquires stake in Bluehole Inc to secures strategic partnership for global expansion. The South Korean game company behind the hit survival shooter game “PlayerUnknown’s Battlegrounds,” said Friday that it had entered a strategic partnership with China’s Tencent Holdings to strengthen its footing in the global game market.

Bluehole also said that Tencent had purchased a stake in Bluehole from Bluehole’s founding chairman, Chang Byung-gyu, as well as other early investors, confirming previous news reports that a deal was underway. Bluehole did not disclose the exact size of Tencent’s share purchase. However, the company confirmed that Chang will retain his status as a majority shareholder.

Tinuku Tencent acquired stake in Bluehole for global expansion

Earlier this week, local news reports citing sources from the local venture capital industry said that Tencent plans to acquire around 8.5 percent of Bluehole’s shares at 650,000 won (US$576) apiece, for around 500 billion won in total.

Combined with a 1.5 percent stake in Bluehole worth around 70 billion won purchased from VCs last year, Tencent would come to hold a 10 percent stake in Bluehole, becoming the firm’s second-largest shareholder after Chang (20 percent stake), according to the reports.

Under the strategic partnership, Bluehole said it was hoping to strengthen its game development capabilities, speed up its expansion into global market, and build on the existing partnership it has in “PUBG.”

Tencent already has a working relationship with Bluehole, as the Chinese firm holds the exclusive rights to publishing “PUBG” in China. The two firms have also collaborated to develop a mobile version of “PUBG,” now being serviced to 100 countries worldwide.

“We are very happy to have entered a strategic partnership with Tencent. We expect that Bluehole’s game development and service capabilities combined with Tencent’s global platform strengths will create greater synergies in the future,” said Bluehole CEO Kim Hyo-seop in a statement.

Developed by Bluehole’s studio PUBG Corp., “PlayerUnknown’s Battlegrounds” is a survivor shooter game reminiscent of Japanese film “Battle Royale” in which 100 players on an island fight until only one remains.


Popular posts

Conservative cleric vice president candidate of Indonesia, abstentions rose

Tinuku - Indonesian President Joko Widodo chose an elderly Muslim cleric Ma'ruf Amin as vice presidential candidate for the 2019 presidential election to become a red record for human rights activists. The figure who actively strives to criminalize minorities and sexuality is seen as a way to reverse human rights enforcement.

Lokataru's director, Haris Azhar, is still campaigning not to elect the presidential and vice presidential candidates. The declaration of two candidate pairs, especially the choice by Joko Widodo to Ma'ruf Amin as vice president and presidential candidate Prabowo Subianto on Sandiaga Uno as vice president, strengthened the minds of human rights activists.

"It's still the same. In fact, it is increasingly proven. From a human rights perspective, all candidates are violators of human rights. So I think the four candidates are the same, not friendly to human rights, not friendly to the environment," said Azhar told to Deutsche Welle Indones…

Ant Financial entered Indonesia in partnership with Emtek

Tinuku - Alibaba Group’s Ant Financial Services is making its first foray into Indonesia with plans to launch a new mobile platform for payment and other financial services in partnership with a local firm.

Ant Financial, operator of China’s popular online payment platform Alipay, announced on Wednesday that it will set up a joint venture with Indonesian digital company Emtek.

Without disclosing the size of the investment, the two companies said the joint venture will leverage Ant Financial’s experience and know-how in mobile payment, digital financial innovations, risk control and cloud computing.

To begin with, the new payment platform will be offered on BBM, Indonesia’s most commonly used messenger application, which is operated by a subsidiary of Emtek and has a user base of over 63 million monthly active users.

“Ant Financial has proven know-how in delivering payment and other financial solutions to a large and growing mobile audience in China and enabling its partners globally, …

Samsung Bioepis and Takeda plans clinical trials new drug

Tinuku - Samsung Bioepis said Monday that it plans to soon start phase 1 clinical trials for its first new drug candidate in development with Japan’s Takeda Pharmaceutical, setting a fresh milestone in the South Korean drugmaker’s push into new drug development.

The therapeutic candidate, SB26, also known as TAK-671, is an ulinastatin-Fc fusion protein to treat severe acute pancreatitis. It is the first result of the new drug development collaboration partnership signed by the two companies in August 2017. Samsung Bioepis spokesperson confirmed the upcoming clinical trials will be held in the US only, though the exact start date for the trials remain undisclosed.

Samsung Bioepis said, the study, randomized, double-blind, placebo-controlled and involving single and multiple dose escalation, will assess the safety, tolerability and pharmacokinetics of intravenous injections of SB26 in healthy volunteers. The results of the study are expected in the third quarter of 2020.

“The upcoming c…

Indonesia eyes plan to help startups expand across southeast Asia

Tinuku - Indonesia wants southeast Asian nations to cooperate in helping startups in the region worth at least $1 billion expand outside their home countries, the communication minister said on Friday. The effort aims to keep foreign startups from dominating a market of 640 million people by assisting the region’s estimated seven to ten unicorns, or companies that have attained a valuation of $1 billion without tapping the stock markets.

“I’ve discussed this strategy with other ministers in Southeast Asia and have offered to everyone to adopt existing unicorns and have a presence in each other’s countries,” Minister of Communication Rudiantara said in an interview.

“I’m really passionate about the issue and have discussed it at our last Association of Southeast Asian Nations ministers’ meeting,” he said at his office, adding that he would discuss the matter again at the next meeting of ASEAN ministers in Bali.

The suggestion drew a positive response from ministers from Thailand and Si…