Major video game publisher Tencent takes over ‘Rime’ developer

Tencent, one of the biggest video game vendors in the world, has acquired a majority shareholding in developer Tequila Works.

Tequila Works is best known for developing adventure puzzle game Rime while Tencent is a Chinese multinational that became the first Asian technology company to be valued at over £383billion ($500billion). They have stakes in several game publishers such as Riot, Supercell, and Epic Games.

In a statement, Tequila Works CEO Raul Rubio said: “For 12 years, the teams at Tequila Works have passionately crafted high-quality titles that radiated our personal sensibilities. But there’s a limit to how much you can grow by yourself.”

“They’re a partner that can appreciate the value of top creative talent with originality as their banner. One that respects our independence and creative freedom. This partnership will allow us to focus on taking the original IPs we are known for to greater heights and create the best experiences we can dream of,” he continued.

Tencent has acquired a majority stake in Spanish game studio Tequila Works, the developer of RIME & Song of Nunu.

Tencent invested in or acquired over 100 game related companies in 2021. A more than 3x increase over 2020.

It’s already invested in another 10+ this year so far. https://t.co/TsFIBe9BOV

— Daniel Ahmad (@ZhugeEX) March 15, 2022

Tequila Works Chairwoman Luz Sancho added: “We are delighted to ally with a partner that allows us to make Tequila Works a stronger studio with access to all the resources required to produce titles of the highest quality, all made with the care and passion our beloved fans know us for as well as the opportunity of bringing these projects to a wider audience.”

Speaking about the acquisition, Pete Smith, VP Partnerships for Tencent Games Global said: “Tequila Works’ creativity and attention to detail has resulted in titles that have delighted audiences around the world. We look forward to working alongside the team and building on these foundations to deliver on its exciting ambitions for future games.”

Tequila Works is developing Song of Nunu: A League of Legends Story for Riot Games, with the steam page saying the title is expected in 2022.

In other news, Devolver Digital’s co-founder Mike Wilson has launched a new company that will specialise in “medically therapeutic” titles.

Working with Ryan Douglas, founder and former CEO of international medical device company Nextern, DeepWell Digital Therapeutics is dedicated to “creating best-in-class gameplay that can simultaneously entertain and deliver, enhance, and accelerate treatment for an array of globally pervasive health conditions.”