In a statement published via its website, Square Enix has today announced that it will join forces with Chinese company Tencent Holdings in a project to co-develop new AAA IPs.
Square Enix describes the partnership as a continued effort to deliver “unique content experiences to its fans all over the world through multifaceted business deployment.” They stipulate that the joint-venture will co-develop AAA titles based on new intellectual properties, as well as the “licensing of existing intellectual properties.”
Tencent Holdings principle operation of business within its gaming segment has been the distribution of popular western and Japanese games in China. It licenses some of the world’s most popular IPs, such as DOTA 2, Fortnite, and PlayerUknown’s Battlegrounds. Tencent represents one of the largest technology companies in the world, though it has most recently been in the headlines both for its calamitous drop in share price and the Chinese government’s refusal to issue gaming licenses. The business that arranged today’s announced partnership likely predates those events, but it does perhaps still suggest as a signal of intent by Tencent that it is optimistic the situation will soon breeze over.
Square Enix Senior Vice President, Steven Ma had this to say about the partnership:
“We have strong expectations for this strategic alliance with Square Enix Group. The alliance will enable us to couple our broad range of internet service capabilities to Square Enix Group’s superb creativity, and provide our customers with unprecedented content experiences on a global basis.”
President and Representative Director, Yosuke Matsuda, added:
“Tencent Group and Square Enix Group share the vision of utilizing technology and creativity to deliver unprecedented entertainment experiences and services to a global audience. This newly established alliance will be a strong boost to Square Enix Group’s strategy to diversify our content offerings and expand access channels to a wider customer base.”