Playtonic sells minority stake to Tencent

Yooka-Laylee developer Playtonic has announced that it has sold a minority stake to leading technology company Tencent.

Playtonic says it “will retain full creative control over its IP and will use the investment to scale from their current one team structure to multiple teams, with an emphasis on hiring diverse talent from near and afar, improving their HQ, as well as looking to expand in new locations.”

Speaking about bringing Tencent into the fold, Playtonic founder Gavin Price explained:

“Six years ago we built a cool, exciting rocket ship, set a course we think is right and exciting. We are thrilled that Tencent agrees with that course and has provided some rocket fuel to further the reach of our mission! The countdown to today has included (deep inhale)… our record breaking Kickstarter for Yooka-Laylee, growing the buddy-duo’s reach with the acclaimed Yooka-Laylee and the Impossible Lair, establishing Playtonic Friends and the successful launch of its first three titles – BPM: Bullets Per Minute, A Little Golf Journey and Demon Turf, signing 3 further incredible beauties in L’il gator Game, Victory Heat Rally & Blossom Tales 2 – The Minotaur Prince, and all the while still being cool (ask our parents)! BUT with Tencent’s help we can scale up and fast-track the super-exciting, super-secret projects we’ve been keeping close to our treasure chests too… things are going to get Bat Ship Crazy over the next few years! Please imagine a wink emoji right now.”

Playtonic also noted today that Danny Spiteri, formerly of Raw Fury and Team17, is at the company as head of publishing. The move “allows the Playtonic Friends-ship to be steadied and captained to new ports, freeing up deck swabs like Studio Head Gavin Price and Exec Producer Andy Wilson to spend more time on the development side of things.”

As for Playtonic’s own projects, today’s announcement teased:

The internal development teams remain super busy and look forward to sharing more on all projects including ‘T…[fax paper ran out, sorry!]

Source: Playtonic PR