Chinese tech giant Tencent has continued its recent spending spree by investing $71.7 million in fellow Chinese game developer, Ourpalm.
As reported by PocketGamer.biz, Tencent now owns 55.4 million shares in the studio, which equates to around 2 percent of the company.
It's a small slice, but Niko Partners analyst Danial Ahmad believes the deal will help both companies tighten their grip on the Chinese market.
"Ourpalm is a strong force in the games market within China," said Ahmad. "The company has developed many successful games and owns stakes in various game developers."
This isn't the first time Tencent has made headlines in 2017. Earlier this year the company grabbed a minority stake in another Chinese game developer, Seasun Games, for $142.6 million. After that, it pumped $90 million into Episode and War Dragons creator Pocket Gems.
Recent reports also suggest the publisher is eyeing up an audacious $3 billion acquition of Angry Birds creator, Rovio. But take that one with a pinch of salt for the time being.
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