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Tencent acquires majority ownership of Tequila Works, developer of Rime

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Tequila Works, the developer behind Rime and Deadlight, is the latest company to join forces with Tencent.

The Madrid-based studio confirmed via press release that it was now majority-owned by the Chinese conglomerate, who will now act as its main shareholder.

"For 12 years, the teams at Tequila Works have passionately crafted high-quality titles that radiated our personal sensibilities," Tequila Works boss Raúl Rubio said. "But there's a limit to how much you can grow by yourself.

Tequila Works' upcoming League of Legends spin-off.Watch on YouTube

"[Tencent is] a partner that can appreciate the value of top creative talent with originality as their banner. One that respects our independence and creative freedom. This partnership will allow us to focus on taking the original IPs we are known for to greater heights and create the best experiences we can dream of."

Tequila Works' next project is Song of Nunu a League of Legends Story. This spin-off from Riot Games' MOBA is the next in a line of related releases from other developers, set within the LOL universe.

It is described as a "heart-warming single-player adventure" that follows characters Nunu and Willump on an epic journey to find Nunu's long-lost mother. It's coming to PC, PlayStation, Switch and Xbox later this year.

League of Legends maker Riot is, of course, already owned by Tencent - another reason this purchase might appeal to Tencent as part of its rapidly-growing portfolio.

Tencent's influence within the video games industry has grown enormously over the past few years, with investment in Ubisoft, Epic Games, Remedy, Sumo, Marvelous, Dontnod, Klei, Platinum, Bohemia Interactive, Playtonic, Roblox and Krafton, plus ownership of Funcom, Sharkmob, Turtle Rock Studios, Inflexion Games, Riot Games and its own enormous Timi Studios, the developer behind smartphone titans Call of Duty Mobile and the Pokémon Unite.

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