Image Credit:ximeiapp.com

According to people familiar with the matter, Tencent has abandoned its acquisition of Black Shark Technology. It was reported in the early days that Tencent was preparing to acquire Black Shark Technology for 2.7 billion yuan, but it has not yet been approved by the relevant departments, so Tencent gave up the acquisition.

According to the report, Luo Yuzhou, CEO of Black Shark Technology, responded to the “Tencent acquisition of Black Shark Technology”, saying that there is no such thing, and Black Shark Technology still has financing and acquisition-related plans.

Black Shark Technology

Black Shark
Image Credit:gsmarena.com

According to the data, Black Shark Technology was established in 2017 and is a technology brand focusing on gaming and e-sports mobile phones. The major shareholder is Xiaomi Technology, holding 46.4362% of the shares. These include the Tencent Black Shark gaming phone 3 series launched by Tencent Games and Black Shark in 2020.

In January this year, 36 Krypton learned from multiple independent sources that Tencent plans to acquire Black Shark Technology, a gaming mobile phone company.

After the acquisition, Black Shark Technology will be integrated into Tencent Group’s Platform and Content Business Group (PCG). After the transaction is completed, Black Shark’s future business focus will shift from gaming phones to VR devices as a whole — content will be provided by Tencent, and Black Shark will provide VR hardware access.

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