Tencent acquires visual novel publisher Visual Arts
Tencent has made another acquisition, this time for Visual Arts. The two companies released a (translated) joint statement confirming the deal, with Visual Arts stating that it will remain itself "and the staff will continue to do the things it wants to do."
Visual Arts is a Japanese publisher known for publishing or developing visual novels. Across its 32-year history, it's been behind several multimedia projects, including Prima Doll and Stella of the End from its subsidiary Key. Its most recent title was the mobile game Heaven Burns Red in 2022.
The month of July has seen Tencent make several business moves. Days ago, Tencent announced it gained a majority stake in Dying Light studio Techland. And earlier in the month, it acquired Destruction All-Stars creator Lucid Games via its subsidiary Lightspeed Studios.
Alongside the acquisition, Visual Arts CEO Takahiro Baba announced his successor. In his place will be Genki Tenkumo, an executive director for the company.
Usually, the Chinese tech giant buys varying levels of stock (or invests) in companies, often those with mainstream presence. Visual novels are a bit more of a niche market for Tencent, but the circumstances of this acquisition aren't like the typical stories we hear about this.
Baba explained that his retirement was spurred by Visual Arts lacking an eventual successor to take over. Because his family owns all stocks in the private enterprise, the company would close if something happened to him.
He and other key staff looked for a company that would be the best fit for Visual Arts, which eventually led to Tencent. With his retirement, all his shares will go to the new parent company, and he'll advise the company on its future projects.
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