Polish analysts have disclosed the estimated value of the deal between Tencent and Techland. It was the largest M&A transaction of 2023 in the country.

Tencent paid over $1.5 billion to acquire majority stake in Techland, according to analysts

According to an M&A Index Poland 2023 report by financial firms Navigator Capital and Fordata (spotted by Bankier.pl), Tencent’s acquisition of Techland is estimated at PLN 6.3 billion ($1.58 billion).

For comparison, the second-largest transaction of 2023 in the Polish market was the acquisition of sports betting company STS Holding by Entain — estimated at PLN 3.9 billion ($980 million).

Tencent acquired a majority stake in Techland in July 2023. The financial terms remained undisclosed, but Navigator Capital and Fordata reported that the Chinese tech giant currently controls a 67% stake in the Dying Light developer.

“Teaming up with Tencent will allow us to move full speed ahead with the execution of the vision for our games,” Techland founder and CEO Paweł Marchewka said at the time, adding that the deal “will mark the start of a new chapter of Techland’s history.”

In February 2023, Marchewka ranked 5th on the list of Poland’s richest people with an estimated net worth of PLN 8.34 billion ($1.87 billion according to the exchange rate at that time). He has been leading Techland ever since its foundation in 1991. In 2022, the studio became the largest game company in Poland by market cap — valued at over $2 billion.

Techland is best known for its Call of Juarez and Dying Light series. Its latest release, Dying Light 2 Stay Human reached 5 million copies sold in its first month, with the franchise’s lifetime sales surpassing 30 million units in February 2023.

In addition to Techland, Tencent controls majority stakes in studios like Yager, Supercell, and Fulqrum Games (fka 1C Entertainment). It also wholly owns Funcom, Riot Games, and Sumo Group, as well as holds various stakes in FromSoftware, Ubisoft, Don’t Nod, Bloober Team, Remedy Entertainment, and Paradox Interactive.

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