Elite: Dangerous – Tencent Snaps Up 9% of Frontier Developments

GamesIndustry.biz is reporting that Chinese gaming giant, Tencent, has acquired a 9% stake of Frontier Developments. The deal is worth approximately $23M and is being used to “augment existing cash reserves”. According to Frontier, the funds will be invested in personnel and in its portfolio that includes Elite: Dangerous and Roller Coaster Tycoon.