Chinese megacorp Tencent is reportedly "resetting its mergers and acquisitions (M&A) strategy" by focussing on "buying majority stakes mainly in overseas gaming companies".
According to Reuters, Tencent traditionally acquired minority stakes and was content with being a "passive financial investor", but it is now "aggressively seeking to own majority or even controlling stakes in overseas targets", chiefly in the "core gaming sector". Metaverse assets are also reportedly of interest to Tencent.
Citing "four people with direct knowledge of the matter", Reuters adds that the shift in Tencent's M&A strategy "comes as the world's number one gaming firm by revenue is counting on global markets for its future growth, which requires a strong portfolio of chart-topping games" and follows regulatory issues in its home country.