Tencent has acquired 1C Entertainment from their now-former parent company 1C, both companies announced this week.

While news of the new acquisition comes this week, the deal was actually made in November 2021 where Tencent agreed to acquire all shares of 1C Entertainment from now-former owner 1C, giving them majority stake in the company and its subsidiaries.

As a result of the new acquisition, 1C Entertainment and all subsidiaries that share the “1C” branding will be renamed within 6 months of the deal being finalized – however details on the new branding will come later.

Subsidiaries in the acquisition include game developer QLOC, central and eastern Europe distributor Cenega, and another digital distributor Muve that also specializes in physical distribution (board games, merchandise).

“We are truly excited by this deal. It is an amazing opportunity for 1CE to achieve our wildest dreams and aspirations in the video games business,” 1C Entertainment management board member Tomasz Nieszporski said. “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.”

News that Tencent has acquired 1C Entertainment comes not long after the Chinese giant also acquired Inflexion Games, as well as Back 4 Blood studio Turtle Rock Studios and Devil’s Third parent company Wake Up Interactive later in 2021.