TikTok‘s parent company continues to invest in game studios. This time, ByteDance acquired 36.2% of the Chinese Umi Game, developers of the yet-to-be-released MMO Code: Odyssey. How much the deal cost the giant is not specified.
The investment was announced by Daniel Ahmad, an analyst at Niko Partners. According to him, the investment confirms “ByteDance’s interest in AAA games, new generation technologies and the global market.”
Recall that recently ByteDance has actively taken up gaming M&A. For example, two weeks ago, she invested $15.4 million in Reworld (the Chinese equivalent of Roblox). She also previously bought C4games and Moonton studios. According to analysts, all this should help the company “fill the price tag before going public” and compete with another Chinese giant Tencent in the video game market.
Umi Game was founded in 2016. Now she is engaged in Code: Odyssey — a new generation MMO with an open world. The game is based on the Unreal Engine from Epic Games and the SpatialOS cloud platform from Improbable.