Square Enix plans to create a strategic alliance with Chinese tech giant Tencent, the video game publisher announced on Thursday.Both have signed a letter of intent and will now establish a joint-venture company. They will also co-develop AAA titles based on new intellectual properties, license existing intellectual properties, and more.This partnership gives Tencent yet another foothold in the gaming industry. The conglomerate already owns "League of Legends" studio Riot Games and has a major stake in mobile developer Supercell. It...
Square Enix
Yosuke
Matsuda
President
Square Enix has enjoyed a busy year. New co-op RPG “Outriders” released in April, garnering a promising audience of 3.5 million players across multiple platforms as Square Enix mulls franchise potential. The company also released its “Neo” sequel to cult-classic JRPG “The World Ends With You” in July, while “Life Is Strange: True Colors” earned the publisher’s narrative-driven franchise warm reviews. But its biggest release this year was October’s “Guardians of the Galaxy,” which followed an “Avengers” game in 2020 that has been a frequent seller throughout 2021. Disney still partners with other publishers, but Square Enix’s flagship “Kingdom Hearts” franchise has long licensed Disney IP as well, making it imperative for Matsuda to ensure the company continues selling Marvel games.