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

Tencent, the Chinese tech giant, has reportedly acquired a majority stake in Kuro Games, the developer behind the popular games Wuthering Waves and Punishing: Gray Raven. This acquisition marks a significant shift for both companies.

Tencent's Increased Stake in Kuro Games

Tencent Now Holds Majority Ownership

Tencent has increased its ownership in Kuro Games to approximately 51.4%, securing a controlling stake. This follows an initial investment in 2023 and the recent withdrawal of other shareholders. Tencent is now the sole external shareholder.

However, according to a report by Chinese news site Youxi Putao, citing a Kuro Games insider, the studio will maintain its operational independence. This model mirrors Tencent's relationships with other successful game developers like Riot Games (League of Legends, Valorant) and Supercell (Clash of Clans, Brawl Stars). Kuro Games stated that this change will foster a "more stable external environment" and support its long-term independence strategy. Tencent has yet to publicly comment on the acquisition.

Kuro Games, a prominent Chinese game developer, is celebrated for its action RPG Punishing: Gray Raven and its recently released open-world RPG Wuthering Waves. Both titles have achieved considerable success, each generating over $120 million USD in revenue and receiving ongoing updates. Wuthering Waves has even earned a Players' Voice nomination for The Game Awards.