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There is some new news out today that might spook some of the conspiracy theorists among us. But even for those who aren’t, this deal should rattle you a little bit. Chinese company Tencent just bought out Funcom, making the company one of the dozens of such acquisitions acquired by the company in recent months. This is big news so be sure to start paying attention.
The gaming company, which recently created the Conan Exiles game back in 2018, got bought out by the Tencent company which also owns such other gaming companies as Riot Games, Epic, Supercell, Ubisoft, Paradox, as well as the Frontier. That is just crazy stuff, folks. But anyway, the gaming giant is looking to expand and get its hands on more of the gaming industry at whatever possible cost. They are sure to be making some big bucks in the endeavor, so we will have to wait and see how things turn out for them.
The development team over at Funcom are responsible for making games such as games like Conan Exiles, Age of Conan, Anarchy Online, and The Secret World. Man, it sounds like they really like their Conan stuff, huh? But maybe they just happen to be into barbarians running around and smashing stuff for fun. I mean, who isn’t right?
For those who are a bit business savvy, here’s how it all went down. Tencent already owns most of the shares of the Funcom company, but today they offered to purchase all the shares that they don’t already own. And they were willing to make a cash offer on those shares too. That’s huge. Big moment.
So when they were making the offer period for the purchase, which is going to start up in early February, they will invariably end up buying a bunch of shares.
When it kicks off, they are offering to buy shares from Funcom’s current holders at around 17.00 kroners per share, and that’s 27 percent higher than than the closing price of Funcom shares that we saw yesterday when the stock markets closed up shop. It is so absolutely bonkers.
The supervisory and managerial board of the company are recommending to the shareholders that they go ahead and take the offer that Funcom is willing to offer them on the deal. That must mean that they know something the rest of us don’t, or at least that’s the way I read it. Good luck out there and happy buying.