Tencent Makes Another Billion-Dollar Gaming Acquisition

Tencent (OTC: TCEHY) announced on Sunday that its acquisition of Leyou Technologies was on track to close after receiving approval from each company's shareholders. Leyou is the parent company of Digital Extremes, the Canada-based video game development studio known for Warframe. It also owns studios including Athlon and Splash Damage. 

Leyou is expected to halt its trading on the Hong Kong Stock Exchange today, and its listing will then be withdrawn before the market opens on Dec. 23. Tencent will be paying roughly $1.5 billion in cash to acquire the company. 

Image source: Getty Images.

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Source Fool.com