FromSoftware parent company Kadokawa Corporation has announced that it has entered into a strategic alliance with Tencent group in order to “strengthen its global IP development and rollout capabilities in the increasingly important games domain in the global market.”In a notice published on its website, Kadokawa said that it aims to achieve medium and long-term enhancement of its corporate value via global deployment of its “rich and unique” collection of properties within books, live-action film, anime, video games, and user-generated content.As part of the strategic alliance, Kadokawa will issue new shares. The notice reads:The Company has been continuously working for collaborations with Tencent Group so far. Such collaborations include Guangzhou Tianwen Kadokawa Animation and Comics Co., Ltd, headquartered in Guangzhou, China; Tencent Group acquired a 41% stake in the company in 2016, a joint venture that operates a publishing business in China, and distribution of our IP e-books, animations, game titles, etc. in China, etc. As a result of discussion with Tencent Group, the Company has reached a capital and business alliance agreement with the Group because the Company judged that the establishment of a capital alliance between the two companies, as well as the strengthening of joint efforts by both companies in the animation and game fields, would contribute to the further strengthening and acceleration of the Global Media Mix strategy for the Company’s IP in the global market including China.FromSoftware is one of Kadokawa’s most valuable asset in the gaming space. It purchased the developer in 2014. In April this year, Kadokawa formed a capital alliance with Sony, who now owns a stake in the company.[Source: Kadokawa via ResetEra]
Source link
