Wuthering Waves’ Kuro Games Taken Over by Tencent as Majority Shareholder

Tencent, a leading Chinese technology company, has significantly increased its investment in Kuro Games, the developer behind the popular mobile games Wuthering Waves and Punishing: Gray Raven. This move grants Tencent majority ownership.

Tencent's Increased Stake

Tencent's acquisition of approximately 37% additional shares brings its total ownership to 51.4%. This, coupled with the departure of other shareholders, gives Tencent controlling interest and makes it the sole external investor in Kuro Games. This follows an initial investment made by Tencent in 2023.

Maintaining Independence

Despite Tencent's majority stake, Kuro Games assures continued operational independence. Internal sources, as reported by Youxi Putao, indicate that the studio will maintain its autonomy, mirroring Tencent's approach with Riot Games (League of Legends, Valorant) and Supercell (Clash of Clans, Brawl Stars). Kuro Games' official statement emphasizes that this acquisition fosters a "more stable external environment" and supports its long-term independence strategy. Tencent has not yet publicly commented.

Kuro Games' Success

Kuro Games has achieved considerable success with both Punishing: Gray Raven and Wuthering Waves, each generating over $120 million USD in revenue. Both titles continue to receive regular updates, and Wuthering Waves has even earned a Players' Voice nomination for The Game Awards.