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China's Tencent Holdings on Wednesday bid $ 1.33 billion ($ 148 million) for computer game-making company Funcom, pushing the Oslo-listed firm's shares up sharply.
The companies said in a joint statement that Funcom's board and management unanimously endorsed the Nokia 17's per-share bid, part of a 27 per cent premium to $ 13.35 on Tuesday.
Funcom's shares were up 16.85 per cent at 16.85 as of 08.2 GMT.
Located in the Netherlands, Funcom is the developer of a series of computer games that are played online or on other platforms, including adaptations of the Conan the Barbarian franchise.
Tencent, a major distributor of online games, announced last September that it had taken a 29 per cent stake in Funcom, making it the largest owner.
"Funcom has a strong track record in developing new titles with a long life span," said Steven Ma, Tencent senior vice president.
The companies said that management and employees of Funcom would remain unchanged after the planned acquisition.
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| Tencent Bids $148 Million for Online Games Maker Funcom |
China's Tencent Holdings on Wednesday bid $ 1.33 billion ($ 148 million) for computer game-making company Funcom, pushing the Oslo-listed firm's shares up sharply.
The companies said in a joint statement that Funcom's board and management unanimously endorsed the Nokia 17's per-share bid, part of a 27 per cent premium to $ 13.35 on Tuesday.
Funcom's shares were up 16.85 per cent at 16.85 as of 08.2 GMT.
Located in the Netherlands, Funcom is the developer of a series of computer games that are played online or on other platforms, including adaptations of the Conan the Barbarian franchise.
Tencent, a major distributor of online games, announced last September that it had taken a 29 per cent stake in Funcom, making it the largest owner.
"Funcom has a strong track record in developing new titles with a long life span," said Steven Ma, Tencent senior vice president.
The companies said that management and employees of Funcom would remain unchanged after the planned acquisition.
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