Square Enix announced today with a press release the signing of a letter of intent to create a “strategic alliance” with Chinese corporation Tencent Holdings.
This alliance is described in the announcement as a mean to accelerate business development efforts to enhance content services worldwide.
“Square Enix Group is making tireless efforts to offer unique content experiences to its fans all over the world through multifaceted business deployment.”
The deal includes the creation of a joint-venture company, co-development of AAA games based on new IPs, licensing of existing IPs, and more.
We also get a comment from Tencent Group Senior Vice President Steven Ma.
“We have strong expectations for this strategic alliance with Square Enix Group. The alliance will enable us to couple our broad range of internet service capabilities to Square Enix Group’s superb creativity, and provide our customers with unprecedented content experiences on a global basis.”
A second comment comes from Square Enix President and CEO Yosuke Matsuda, promising a “strong boost” to the company’s strategy to diversify its content.
“Tencent Group and Square Enix Group share the vision of utilizing technology and creativity to deliver unprecedented entertainment experiences and services to a global audience. This newly established alliance will be a strong boost to Square Enix Group’s strategy to diversify our content offerings and expand access channels to a wider customer base.”
If you’re curious about Square Enix’s recent financial performance, you can read our dedicated article from earlier this month related to the latest quarterly results for the company.