The deal was reached in late November 2021, in which Tencent agreed that it would acquire all shares of 1C Entertainment previously owned by 1C, giving it a majority stake in the company and all of its subsidiaries.
1C Entertainment and all of its subsidiaries that include the “1C” branding will be renamed within six months of the deal’s completion. Rebranding details will be announced at a later date.
“We are truly excited by this deal,” said 1C Entertainment board member Tomasz Nieszporski in a press release. “It is an amazing opportunity for 1C Entertainment to achieve our wildest dreams and aspirations in the video games business. Our vision and passion will be now backed by a leading global games company, and I am humbled by the unique chance of working together with Tencent and the other top creative minds that are part of its global ecosystem.”
Tencent Games global chief technology officer Li Shen added, “We couldn’t be more pleased to work with the talented team at 1C Entertainment, supporting them as they embark on a new phase of growth.”