Tencent Holdings has announced that it has acquired the Turtle Rock Studios’ (Turtle Rock) parent company, Slamfire. Turtle Rock will continue “independent operations” out of its current office in California, with cofounders Phil Robb and Chris Ashton remaining at the helm. The studio said the acquisition will enable it to grow in size and expand its ambitions for Back 4 Blood. 

“We are all looking forward to joining the Tencent family of studios. Tencent’s outstanding partners, global reach, deep knowledge of gaming and unprecedented support will help us create the kinds of ambitious games we dream of while allowing us to retain our autonomy and independent spirit,” said Turtle Rock Studios president and GM Steve Goldstein.

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“We are huge fans of Turtle Rock’s games, especially their amazing approach to creating co-operative online games. We can’t wait to see what comes next, and we’re excited to be part of their future,” said Tencent Games global chief strategy officer Eddie Chan.

Juno Capital Partners represented Turtle Rock as M&A and strategic advisor, Creative Artists Agency represented Turtle Rock as its talent agency and Straddling, Yocca, Carlson & Rauth and Kabealo Law acted as legal counsel for Turtle Rock in the transaction.