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FUNCOMo - Funcom SE News Story

NOK15.64 0.0  0.0%

Last Trade - 29/06/20

Sector
Technology
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £19.4m
Position in Universe th / 1850

UPDATE 1-Tencent in $148 mln bid for online games maker Funcom

Wed 22nd January, 2020 8:02am
(Adds quote, background)
    OSLO, Jan 22 (Reuters) - China's Tencent Holdings  0700.HK 
has launched a bid for Norwegian computer games-maker Funcom
 FUNCOM.OL , valuing the Oslo-listed firm at 1.33 billion
Norwegian crowns ($148 million), the two companies said in a
joint statement.
    The board and management of Funcom unanimously supported the
all-cash bid of 17 crowns per share, a 27% premium to Tuesday's
closing price of 13.35 crowns.
    Based in the Netherlands, Funcom is the developer of a range
of computer games that are played online or on other platforms,
including adaptations of the Conan the Barbarian franchise.
    Tencent, itself a major distributor of online games,
announced last September it had taken a 29% stake in Funcom,
making it the largest owner.  urn:newsml:reuters.com:*:nL5N26L1VY
    "Funcom has a strong track-record in developing new titles
with long life spans," said Tencent Senior Vice-President Steven
Ma.
    Funcom's management and staff will remain unchanged
following the planned acquisition, the companies added.
($1 = 8.9867 Norwegian crowns)

 (Reporting by Terje Solsvik, editing by Gwladys Fouche)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70))
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