The powerful Chinese technology and gaming company, Tencent, has been added to a list of restricted entities by the United States Department of Defense.
Being included on that blacklist does not automatically enforce trade restrictions or penalties within the U.S., but its purpose is to discourage other businesses from engaging in transactions with the blacklisted parties.
In 2020, a list known as the blacklist was created under an executive order issued by then-president Donald Trump. The order prohibited American companies from financially supporting businesses with connections to China’s military. It appears that Tencent is facing allegations for being involved in such activities.
According to Danny Marti from Tencent, this listing doesn’t affect our operations in any way. However, we are ready to collaborate with the Department of Defense to clarify any potential misconceptions.
It’s hard to overstate the size and importance of Tencent in the industry. In relation to PlayStation, it is the full owner of multiple game development studios like Grinding Gear Games, which is developing Path of Exile 2, and Sumo Group, the umbrella company for Sumo Digital.
Notably, Tencent is the owner of Riot Games, a company based in Los Angeles, well-known for creating League of Legends and several other games that have been released on PlayStation systems over the past couple of years.
Apart from these instances, Tencent holds significant ownership in numerous European game development companies such as Techland (creators of Dying Light) and Fatshark (developers of Warhammer 40,000: Darktide).
Additionally, it holds significant investments in companies such as Dontnod Entertainment (the original Life is Strange, Banishers: Ghosts of New Eden), Shift Up (Stellar Blade), Epic Games (Fortnite), Bloober Team (Silent Hill 2), FromSoftware (Elden Ring), Remedy Entertainment (Alan Wake, Control), and others.
Lately, there’s been a lot of buzz surrounding Tencent due to its potential acquisition of the established French gaming company, Ubisoft. Rumors suggest that Tencent is in negotiations to fully purchase Ubisoft.
Essentially, given the wide range of businesses Tencent is involved in, getting blacklisted generates quite a buzz in the news. However, we’ll need to monitor the situation to determine if any real consequences will follow.
What do you make of all this? Buy up some shares of your own in the comments section below.
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2025-01-07 21:36