Sharkmob was acquired by Tencent.

Sharkmob, a Malmö, Sweden-based game studio, announced in a press release that it was acquired by the Chinese group Tencent Holdings.

The financial details of the transaction were not disclosed.

This is the second acquisition Tencent made in Sweden in 2019 - in January it acquired 36% from Fatshark, a Stockholm-based game developer in a $56M deal. In Scandinavia, Tencent is also active via its ownership in Supercell from Finland or 1939 Games from Iceland.

Sharkmob, founded in 2017 by a group of ex-Ubisoft developers (Petter Mannerfelt, Martin Hultberg, Anders Holmquist, Rodrigo Cortes and Jenny Alstierna) led by CEO Fredrik Rundqvist, has assembled a team of more than 50 people working for an undisclosed multiplayer PC and console game based on a cult classic franchise. The company also has under development several new projects together with Tencent.

Upon its founding, Sharkmob raised about $1M in external funding from LMK Ventures.