They sought to obtain it outright but were rebuffed

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[Update: In a statement provided to GamesIndustry.biz, Bluehole stated, “These reports are inaccurate. Tencent didn’t make an investment in Bluehole.”]

Tencent, the ever-expanding Chinese internet holding company, has backed Bluehole Studio Inc., the South Korean firm that developed the renowned game PlayerUnknown’s Battlegrounds. Perhaps you’re familiar with it.

Details about the exact investment amount are unclear, but initially they intended to acquire Bluehole, yet that offer was declined.

It’s not surprising that Tencent would be after a company like Bluehole. PUBG has sold well over four million copies, and 19 percent of its player base is in China, with the United States accounting for the next largest share at 24 percent.

Tencent has been actively acquiring stakes in foreign game companies recently. Back in July, it obtained a 9 percent stake in Frontier Developments, the developer of Elite Dangerous and Planet Coaster.

Tencent Backs South Korean Game Developer Bluehole [Yicai Global]