Tencent has taken a stake in French mobile games company Voodoo, as the Chinese internet group looks to step up its pace of investments in Europe.
The minority investment gives Voodoo an enterprise value of $1.4bn, making it the first “unicorn” company in the fast-growing “hyper casual” gaming market. The deal follows Zynga’s $168m acquisition this month of another hyper-casual outfit, Rollic Games.
Voodoo’s portfolio of games such as Helix Jump, Crowd City and Paper.io — which look simple and quick to play but are often very difficult to complete — has attracted more than 1bn players around the world, including many in China.
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