Tencent has increased its shareholding in Remedy to almost 15%

Tencent has significantly increased its shareholding in Remedy Entertainment.

The world’s largest gaming publisher now holds 2,005,716 shares in the Alan Wake and Control maker, corresponding to 14.8 percent of the Finish company’s shares and voting rights.

The Chinese tech giant originally acquired 3.8% of shares in Remedy in May 2021, and had increased its stake to 5.01% as of November 2022.

Tencent is scheduled to publish an upcoming Remedy game, Codename Kestrel, which is currently in the “concept stage” after being rebooted last year.

Previously designed as a free-to-play game, Remedy has said it will now be a “premium game with a strong, co-operative multiplayer component”.

Providing an update on the status of the studio’s in development projects last month, Remedy CEO Tero Virtala said players should expect a “more regular cadence of sequels” for Alan Wake and Control.

After struggling for over a decade to make a sequel to 2010’s original, Alan Wake 2 was finally released last October, while a sequel to 2019’s Control is currently in development.

Remedy is also working on Codename Condor, a co-operative multiplayer game set in the Control universe, and Max Payne 1 & 2 Remake. It said today that Condor has entered full production.

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