Tencent’s Black Shark acquisition cancelled!

Tencent purchase of Black Shark Technology has officially been abandoned.

Tencent’s Black Shark acquisition has been abandoned, as sources claim the Chinese conglomerate has given up on the acquisition. However, they have still invested in Black Shark Technology, and the topic seems very calm at the moment.

Black Shark acquisition cancelled by Tencent

The Black Shark Technology acquisition has yet to be confirmed by any sources, and the acquisition has also not been approved since it’s emergance in January, so we can safely assume that the deal is off, and Tencent has given up on the acquisition of Black Shark. However Tencent is still invested in Black Shark, and they have responded to the topic claiming that they wouldn’t comment on the suspension of the deal yet.

For the uninitiated, Black Shark is Xiaomi’s gaming division, which focuses on gaming phones like the Blackshark 5 Pro, which you can see above. Most of the company’s fame comes from their Blackshark line of gaming phones, which started with 2018’s very creatively named “Blackshark” smartphone. You can read more about the specs of the original Blackshark here.

Luo Yuzhou, the CEO of Black Shark Technology claims that Black Shark still has “financing and acquisition related plans”. It was previously rumoured that Tencent’s Black Shark acquisition would lead to them also entering the Metaverse. The registered capital of Black Shark currently resides at 73 million Yuan.

(via: ITHome)

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