Paradox Interactive listing attracts Tencent as fan and long-term investor
Leading online games publisher and platform to contribute to Paradox’s future journey
(May 27, Stockholm) Tencent Holdings Limited, which operates China’s largest social network and online games platform, has subscribed to and been allocated shares in the initial public offering of Paradox Interactive (”Paradox”) on Nasdaq First North Premier.
Tencent has been allocated 5.28 million shares at the offering price of SEK 33 per share, and hold 5% equity interest in Paradox Interactive post transaction. Fredrik Wester and Spiltan will continue to be key shareholders in Paradox with 33.3 % and 30.5 % shareholdings, respectively.
A long-time fan of Paradox games, Tencent will work to explore opportunities with Paradox to build up the emerging grand strategy, simulation, and story-driven RPG fan bases in China. Tencent has a history of supporting new game genres in China, where it operates globally renowned titles such as League of Legends, Cross-Fire, Dungeon & Fighter, Call of Duty Online, FIFA Online and Need for Speed, as well as many popular locally-developed games. Tencent also has a track record of building strong partnership with game industry leaders, such as Activision Blizzard, Riot Games, CJ Netmarble and Miniclip, via equity investment and support in distribution and operations.
Fredrik Wester, CEO and principal owner of Paradox, said:
“Tencent approached us as big fans of our grand strategy games and with a genuine interest in Paradox and our onward journey. It has always been very important for us that any partners we bring on board can contribute in a unique and attractive way to Paradox and have a long term commitment to the company. Tencent certainly fit the bill with their network and know-how of a market where we are not yet present and we believe Tencent will be able to add great value to Paradox in near and long term.”
Steven Ma, Head of Games Publishing at Tencent, said,
“As China’s game market further develops, players will advance to more sophisticated and complex genres such as grand strategy and simulation games. I have spent many hours in Hearts of Iron 2, and believe our rich social resources can help Paradox build up loyal fan bases in China.”
James Mitchell, Chief Strategy Officer at Tencent, added
“Paradox has an inspiring record of focusing on doing a few things extremely well, creating games that demand much from its players but deliver more in return, and faithfully extending its franchises via high quality updates and expansion packs. As a player of Europa Universalis games for 10 years and of Stellaris since launch, we look forward to teaming up with thoughtful and strategic gamers in China to discover Paradox’s deep, emergent titles, and enabling them to colonize the New World, as well as the outermost Galactic confederations.”
For more information, please contact:
Fredrik Wester, CEO
Andras Vajlok, CFO
Telephone: 070-355 54 18
Canny Lo, Global Communications
Telephone: (852) 3148 5100 ext 66630 Email: firstname.lastname@example.org
Tracy Huang, Investor Relations
Telephone: (852) 3148 5100 ext 83731 Email: email@example.com
About Paradox Interactive
The Paradox Interactive group today includes publishing and internal development of PC-games and licensing White Wolf’s brands. The publishing operation publishes both internally developed titles as well as titles developed by independent studios as well as music and books. The game portfolio today includes of more than 75 titles and Paradox Interactive owns the most important of the brands, including Europa Universalis, Hearts of Iron, Crusader Kings, Cities: Skylines and Magicka . From the start over ten years ago, the company has published its games all over the world, initially through physical distribution using partners, but from 2006 digitally using its own publishing arm. The development platform is primarily PC, but during 2015 the company has released games on PS4 and mobile platforms as well. The largest markets today include the US, UK, Germany, France, Russia and Scandinavia. Today, approximately one million gamers play a Paradox game each month and the number of Paradox users exceeds five million.
Tencent uses technology to enrich the lives of Internet users. Every day, hundreds of millions of people communicate, share experiences, consume information and seek entertainment through our integrated platforms. Tencent’s services include QQ, Weixin/ WeChat for communications; Qzone for social networking; QQ Game Platform for online games; QQ.com and Tencent News for information; and Tencent Video for video content. Tencent was founded in Shenzhen in 1998 and went public on the Hong Kong Stock Exchange in 2004. Tencent seeks to evolve with the Internet by investing in innovation, providing a mutually beneficial environment for its partners, and staying close to its users.