Growth and development of future titles remain the priority
Press Release: Offworld Industries, the development studio behind critically acclaimed first-person shooters Squad and Beyond the Wire, announced today that it has received a strategic investment from Tencent Holdings Limited (“Tencent”, SEHK: 00700), a leading integrated internet services provider based in China.
The deal will see Tencent acquire a minority stake in the Vancouver-based studio and allow Offworld to further build upon the live services of its successful FPS titles, manage studio growth and fuel the development of future titles. Additionally, Tencent’s General Manager of Tencent Shooting Games, Gram Xu, will come on as a member of Offworld Industries’ board of directors.
“We see Tencent’s investment as a wonderful validation of both our track record for bringing engaging PC shooters to market and our long-term vision for the studio,” said Offworld’s Director of Finance Kristine Kakuno. “Their reputation as a strategic partner in providing studios with the resources and freedom they need to excel is well documented. We are thrilled to have them along as we reach new heights with Squad and our future titles.”
With the new investment, Offworld Industries welcomes Tencent’s Shooting & Creative team (STC) as part of the partnership. The STC team brings a wealth of experience with a proven track record in successfully growing online first-person shooters having previously worked on the wildly popular CrossFire series.
“Offworld Industries’ has created an impressive catalog of first-person shooters,” said the STC team. “Tencent prides itself on investing in talented studios at all levels. We’re happy to contribute to the growth of Offworlds’ future and help provide the insights needed for the studio to reach its full potential.”
About Offworld Industries
Offworld Industries was founded in 2014 by a group of passionate game modders on a mission to build a full-game version of the Project Reality mod. Now an acclaimed independent studio with over 100 employees, Offworld is responsible for the ongoing development of the hit FPS shooter Squad, as well as the publisher of FPS titles Post Scriptum and Beyond the Wire.