GamesIndustry.biz is reporting that Chinese gaming giant, Tencent, has acquired a 9% stake of Frontier Developments. The deal is worth approximately $23M and is being used to "augment existing cash reserves". According to Frontier, the funds will be invested in personnel and in its portfolio that includes Elite: Dangerous and Planet Coaster.
Tencent's chief strategy officer James Mitchell noted Frontier's "highly scalable game engine technology, decades of development experience, and increasingly sophisticated live operations" as reasons for the investment. He also noted an increasing level of interest within China in games involving space exploration and theme parks, which feature prominently in Frontier's catalogue of IP.
You can read the full report at the link above.
