Of late, Chinese games and messaging tech giant Tencent has been acquiring various other companies or large shares of companies. This is a very common practice for companies to acquire large shares of other companies. However, recently Tencent’s gaming empire has taken a hit by a state regulatory crackdown that has limited the number of hours school children can spend playing games online.
The new state regulations mark that children under the age of 12 cannot make in-game purchases, and children under the age of 18 are locked out of games after spending two hours playing games on holidays and one hour on school nights. Regulators have also slowed approvals for publishing new games as part of a broader crackdown on tech giants.
The Tianyan Check App showed that the company Hangzhou Blue Core Technology Co., Ltd. had undergone a few commercial and industrial changes. One name was added to its growing shareholding companies: Guangxi Tencent Venture Capital Co., Ltd. The registered capital for Hangzhou Blue Core Technology has increased from 37.45 million to about 45.77 million. The official website of the company describes the company as a self-developed MRDVS enterprise in the field of mobile robots which is engaged in developing deep visual perception technology and commercial products from mobile robots.
Interestingly, Tencent, a few days ago, had acquired the Japanese Wake Up Interactive for more than JPY 5 billion yen which is approximately INR. 326 crore. Wake Up Interactive is the studio behind several famous Nintendo Switch titles. The purchase of the Wake Up Interactive is among many that Tencent has concluded with privately-held game makers in Japan this year. This acquisition aligns with Tencent’s strategy to level the ground now that state regulations have made it difficult for gaming companies. However, Tencent has not revealed any details as to why the company chose to invest in the mobile robots company, the Hangzhou Blue Core.