Yahoo Finance Tencent buys 'Back 4 Blood' studio Turtle Rock
The Chinese conglomerate has bought or invested in more than 100 gaming-related companies this year.
Tencent has added another notable game developer to its roster after buying Slamfire, the parent company of Turtle Rock Studios, for an undisclosed sum. The studio is behind Left 4 Dead, Evolve and, most recently, Back 4 Blood. Co-founders Phil Robb and Chris Ashton will continue to run the studio.
"By joining the Tencent family, we will not only get access to their vast resources and expertise, but we have found a partner who is encouraging us to be ambitious and visionary," Turtle Rock wrote in a blog post. The studio said it's expanding its team to support Back 4 Blood and create more multiplayer experiences. It added it will be able to do something new: "turn a universe we created into a true long-standing AAA franchise."
Tencent has made more major strides in the gaming sphere this year. It acquired LittleBigPlanet 3 developer Sumo Group this summer for $1.26 billion. As analyst Daniel Ahmad notes, the company has bought or invested in more than 100 gaming-related companies in 2021 alone. For instance, it took stakes in Remedy Entertainment and Life is Strange studio Dontnod.
