China's Tencent buys into French game developer Voodoo

PARIS: French video game developer Voodoo said Monday it had sold a minority stake to Chinese tech giant Tencent which is caught in a standoff with US President Donald Trump over its hugely popular WeChat social media app. Founded in 2013, and known for its easy-to-play smartphone games, Voodoo is now valued at 1.2 billion euros ($1.42 billion), according to a company statement which did not divulge the amount of the Tencent investment. The transaction, Voodoo added, will help "develop its growth strategy and adapt its games to the Asian market."