For $470 million, Tencent will acquire Xiaomi’s BlackShark Gaming branch

A recent report suggests that Tencent Games is poised to acquire Xiaomi’s BlackShark Gaming subsidiary in a CNY 3 billion deal. Approximately $470 million is involved.

Breaking:
Tencent will acquire BlackShark Gaming part of xiaomi group in 3 billion yuan.#Tencent #BlackShark #Xiaomi pic.twitter.com/zcFLdSyG9C

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The transaction is still shrouded in mystery, and there has been no official word from the company. If this happens, Tencent will have a hardware offering of its own to compete in the gaming smartphone market.

Prior to this agreement, Tencent had partnered with a number of smartphone manufacturers, including Asus and nubia. BlackShark might help the company expand its operations internationally, given the success of Xiaomi’s division in a number of major nations.