Games

Tencent bought 13.6% of Bilibili video hosting shares – it owns two cyber sports teams from China 

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Corporations had to spend about $ 316 million.

Team Bilibili Gaming
Team Bilibili Gaming

Chinese giant Tencent announced the completion of the acquisition of shares of video hosting Bilibili. The company invested approximately $ 316 million, having bought out 13.6% of all shares of the service.

According to GameIndusty.biz, Bilibili entered the market earlier in 2018 with 42 million shares from $ 11.5. After part of the shares acquired Tencent, their price jumped to 15.48 dollars, and then settled at around 14.51 at the close of trading.

Video hosting owns two professional cyber sports teams: Bilibili Gaming, participating in League of Legends competitions, and a newly formed team from the Hangzhou Overwatch League.

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In June 2017, Tencent announced that it plans to invest $ 15 billion in eSports over 5 years. The company is going to organize tournaments and invest in studios that are actively involved in the development of eSports. Earlier, she acquired Riot Games, developers of League of Legends, and shares in Activision Blizzard.

In early October, Tencent announced that it would restructure the company — some units would merge, and then open two new ones.

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