Tencent nabs minority stake in Yooka-Laylee developer Playtonic

Tencent has acquired a minority stake in Yooka-Laylee developer Playtonic for an undisclosed fee.

Playtonic explained the deal will allow it to scale from its one team structure to multiple teams, expand its talent pool with a focus on diversity, and improve its headquarters in Derby, UK.

The studio, which also operates a publishing division called Playtonic Friends, will retain full creative control over its IP following the investment.

"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," said Playtonic founder, Gavin Price.

Price also expects the deal will allow Playtonic to "fast-track" a number of projects currently in development, while also bolstering the publishing capabilities of Playtonic Friends -- starting with the hiring of former Raw Fury brand manager, Danny Spiteri, as the company's new head of publishing.

"It's been less than a year since Playtonic Friends was unveiled but, it's fair to say, it's made quite an impression in a relatively short space of time," commented Spiteri. "The array of titles that's already been published is quite something and I'm excited to see how I can add wind to the sails to help us build on the momentum we’ve already amassed to power us into 2022.