Tencent Mobility snaps up Grinding Gear Games for more than $100M

Thu, 31 May 2018

By Rebecca Howard May 31 (BusinessDesk) - Hong Kong-listed Tencent Mobility was granted Overseas Investment Office approval to buy up to 100 percent of video game developer Grinding Gear Games for more than $100 million. Tencent Mobility - an online communication, advertising, and gaming service provider - was granted consent to acquire up to 100 percent of the shares in Grinding Gear Games, 80 percent upfront and the remaining 20 percent over approximately six years, a summary of the decision released today said. While no amount was d...

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