Under the terms of the acquisition, Turtle Rock Studios will operate as an independent entity under the Tencent Games umbrella. Based in Lake Forest, California, the studio will retain its current team and leadership, with co-founders Phil Robb and Chris Ashton continuing to steer studio operations. This strategic acquisition ensures that Turtle Rock Studios maintains its creative autonomy and unique studio culture while benefiting from Tencent’s extensive resources and global reach. Crucially for fans, the acquisition will not impact Back 4 Blood, Turtle Rock’s critically acclaimed cooperative first-person shooter, which remains published by Warner Bros. Games.
Steve Goldstein, president and general manager of Turtle Rock Studios, expressed enthusiasm about the partnership, stating, “Joining Tencent is a thrilling step for Turtle Rock Studios. Tencent’s exceptional network of partners, worldwide influence, and profound understanding of the gaming landscape, combined with their steadfast support, empowers us to pursue ambitious game development while preserving our independence and creative spirit.”
Eddie Chan, chief strategy officer of Tencent Games Global, echoed this sentiment, highlighting the strategic rationale behind the acquisition: “We have long admired Turtle Rock’s groundbreaking work in the cooperative online gaming space. Their innovative approach to game design and their track record of developing iconic titles make them a valuable addition to the Tencent Games family. We are excited to support their future endeavors and are eager to witness the innovative games they will create.”
The financial details of the deal were not disclosed, but Juno Capital Partners acted as the M&A and strategic advisor for Turtle Rock, while Creative Artists Agency served as their talent agency. Legal counsel was provided by Straddling, Yocca, Carlson & Rauth and Kabealo Law.
Turtle Rock Studios: A Legacy of Cooperative Gaming Innovation
Turtle Rock Studios has cemented its reputation as a pioneer in the cooperative gaming genre. Renowned for creating iconic franchises such as Left 4 Dead, Evolve, and most recently Back 4 Blood, the studio has consistently delivered high-quality, engaging multiplayer experiences that resonate with gamers worldwide. Their expertise in crafting compelling cooperative gameplay mechanics and their commitment to player-driven narratives have earned them numerous accolades and a dedicated fan base. Currently, Turtle Rock Studios continues to support Back 4 Blood in collaboration with Warner Bros. Games, demonstrating their ongoing dedication to their player communities and game franchises.
Tencent: A Global Leader in Interactive Entertainment
Tencent’s acquisition of Turtle Rock Studios underscores its commitment to expanding its global footprint in the interactive entertainment industry. Tencent utilizes technology to connect and enrich the lives of users globally through its diverse portfolio of digital services. Its communication and social platforms, Weixin and QQ, are integral to the daily lives of millions, connecting users with each other and a vast ecosystem of digital content and services. Tencent’s extensive gaming division is a global powerhouse, known for both publishing and developing some of the world’s most popular games. Founded in Shenzhen, China in 1998, Tencent (00700.HK) is publicly listed on the Hong Kong Stock Exchange and continues to be a driving force in the evolution of digital entertainment.
Contact:
Chris Kramer – [email protected]
