| Date | Type | Companies involved | Size |
|---|---|---|---|
| December 14th, 2020 | acquisition | Tencent | $1,300m |
Shareholders in Hong Kong’s Leyou Technologies Holdings have approved a deal for Chinese tech and entertainment giant Tencent to buy the company.
The nod was given on Friday, December 11th in an extraordinary general meeting, with Tencent expected to shell out a whopping $1.3bn (HK$10.25bn) via its Image Frame Investment subsidiary. That’s based on the offer of HK$3.3219 per share Tencent put on the table back in August.
As of December 23rd, Leyou will be taken private.
For sale
This news comes 12 months after the first reports of Leyou being up for sale. Back then, IDreamSky was in talks to snap up the company.
Tencent joined the list of companies interested in buying Leyou in July of this year.
For the full story head over to PCGamesInsider.biz.
PCGamesInsider Contributing Editor
Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.
