Beijing-based TikTok owner ByteDance has wholly acquired C4games, the developer of Red Alert Online.
C4games CEO Ace Hu announced the deal in an employee letter on April 13, saying that the future of gaming must serve not just players in one region, but global players, which fits well with Nuverse's globalization philosophy.
ByteDance took a 5.9 percent stake in C4games in October last year and completed a wholly-owned acquisition of C4games earlier this year, jiemian.com said, citing ByteDance's source.
As previously reported by CnTechPost, ByteDance acquired local mobile game company Moonton in late March.
Nuverse's acquisition of two outbound game companies in quick succession shows that there is still a lot of room in the overseas game market compared to the overwhelmingly Tencent-dominated Chinese game market, jiemian.com said, citing Nuverse's source.
Twenty-three Chinese mobile games entered the top 100 best-selling charts in Japan in the first quarter of 2020, with C4games' Hลchi Shลjo, which has been operating for three years, ranking No. 2, according to data provider Sensor Tower.
ByteDance launched a brand called Nuverse in February for its gaming business, signaling that the tech giant, which has only risen to prominence in recent years, would compete in the game industry.
ByteDance acquires gaming studio Moonton, valuing it at reportedly about $4 billion
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