Tencent increases its focus on mobile gaming with $500m investment in Korea’s CJ Games

Mar26

by Sindy Cator on March 26, 2014 at 9:08 am

Chinese Internet giant Tencent is stepping up its commitment to mobile social games as it announced plans to acquire a 28 percent stake in Korea’s CJ Games for $500 million. CJ Games is known for its portfolio of mobile games, which includes ‘Taming Monster’ by Seed9, ‘Modoo Marble’ by N2Play, ‘Everybody’s ChaChaCha’ by Turnon Games, and ‘Everybody’s Dungeon King’ by Bluepepper. As part of the deal, CJ Games will also acquire and merge Netmarble, a game distribution division of its parent firm CJ E&M. Tencent already has an extensive history in the gaming industry — considering that it’s already well known for online…