Black Shark executives corrupted and caused Tencent to terminate the acquisition

Black Shark is significantly reducing the number of jobs in the near future, and the proportion of layoffs is nearly 50%. Among them, the VR project is the hardest hit area. People familiar with the matter said that Tencent’s acquisition of Black Shark was stranded, or a major reason for Black Shark’s layoffs.

According to people familiar with the matter, Tencent’s acquisition plan for Black Shark Technology was “not smooth” and has been temporarily suspended. It had previously considered cooperating with Black Shark Technology in the form of investment. In response, Black Shark CEO Luo Yuzhou responded that he had no comment.

In addition, some netizens broke the news that Tencent invested hundreds of millions of funds in the research and development of VR for Black Shark, which was corrupted by Black Shark’s top management, resulting in the cancellation of Tencent’s acquisition plan.

A Black Shark insider told the media: The news is untrue. In response to false rumors, Black Shark will resort to the law to defend the company's reputation. Currently, Black Shark and Tencent still have investment cooperation.

Black Shark Technology was established in 2017 and was funded by Xiaomi. It has launched several gaming phones, including the Tencent Black Shark gaming phone 3 series jointly launched by Tencent Games and Black Shark in 2020.

The news that Tencent is preparing to acquire Black Shark Technology for 2.7 billion yuan was exposed in January this year. In January this year, 36 Krypton learned from multiple independent sources that Tencent plans to acquire Black Shark Technology, a gaming mobile phone company. After the acquisition, Black Shark will be integrated into the Tencent Group Platform and Content Group (PCG). After the transaction is completed, Black Shark's future business focus will shift from gaming phones to VR devices as a whole Tencent provides content, and Black Shark provides VR hardware access.

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