Tencent has purchased a controlling stake in the streaming service called Huya.
The Chinese tech giant has acquired “16.5 million Class B ordinary shares of Huya from its parent JOYY”, gamesindustry.biz reports. Tencent has paid around $262.6 million and now owns at least 50.1% of Huya.
This is not the first investment Tencent has made in Huya. Two years ago, it invested $461.6 million in the service.
In addition to Huya, Tencent also owns a controlling stake in Douyu, another streaming platform. Moreover, Tencent has its own Twitch-like service eGame, which focuses on video game live streaming.
With these assets under its belt, Tencent is now the dominant player in China’s games streaming market.