Supercell has invested $37 million in Space Ape Game, a developer of Beatstar and other mobile games. The deal will bring the Clash of Clans maker’s stake in the studio to 75%.

Another Tencent’s product will soon be closed. The Chinese tech giant has announced its decision to shut down the mobile app of WeGame, a game store dubbed its answer to Steam.

Industry analysts continue to say that the games market will experience a decline this year. According to the NPD Group, US consumer spending will fall to $55.5 billion in 2022, which is down 8.7% year-over-year.