SINGAPORE, Nov. 18, 2018 /PRNewswire/ -- Sea Limited (NYSE:
SE) ("Sea" or the "Company") today announced that Garena, the
company's digital entertainment arm, and an affiliate of
Tencent Holdings Limited
("Tencent") have signed a binding
letter of intent under which Tencent
will grant Garena a right of first refusal to publish Tencent's
mobile and PC games in Indonesia, Taiwan, Thailand, the
Philippines, Malaysia, and
Singapore.
The arrangement strengthens a long-standing strategic
partnership between Garena and Tencent. Garena already publishes a number of the
most successful games from Tencent's portfolio in its core markets,
including Arena of Valor and League of Legends.
Following the implementation of this arrangement, the two
companies intend to work closely together to identify strategic
opportunities to distribute and promote top titles from Tencent's
portfolio in the relevant markets. The arrangement will be in force
for a period of five years.
Forrest Li, Chairman and Group
Chief Executive Officer of Sea, said, "Tencent is a global leader in the video games
industry, with a portfolio that includes some of the world's most
popular and engaging titles. This arrangement further solidifies
our strategic partnership with Tencent to bring top quality IP to the large and
growing games community in our region. Tencent has long been one of our most valued
partners, and we are excited to work even more closely together to
develop new opportunities in the relevant markets over the long
run."
Martin Lau, President of
Tencent, said, "Garena operates
across some of the fastest-growing markets globally, and has a deep
understanding of the dynamics in these regions. Our long-term
partnership and collaborations with Garena on key titles have been
successful, and we are glad to further deepen our strategic
partnership through this arrangement. We look forward to closely
working with Garena in offering users new and exciting titles in
the years ahead."
For enquiries, please contact:
For Sea:
Investors / analysts: ir@seagroup.com
Media: media@seagroup.com
For Tencent:
Pui Hang Cheung :
phcheung@tencent.com
About Sea Limited
Sea's mission is to better the lives of the consumers and small
businesses of our region with technology. Our region includes the
key markets of Indonesia,
Taiwan, Vietnam, Thailand, the
Philippines, Malaysia and
Singapore. Sea operates three
platforms across digital entertainment, e-commerce, and digital
financial services, known as Garena, Shopee, and AirPay,
respectively.
About Tencent Holdings
Limited
Tencent uses technology to enrich
the lives of Internet users. Our social products Weixin and QQ link
our users to a rich digital content catalogue including games,
video, music and books. Our proprietary targeting technology helps
advertisers reach out to hundreds of millions of consumers in
China. Our infrastructure services
including payment, security, cloud and artificial intelligence
create differentiated offerings and support our partners' business
growth. Tencent invests heavily in
people and innovation, enabling us to evolve with the Internet.
Tencent was founded in Shenzhen, China, in 1998. Shares of
Tencent (00700.HK) are traded on the
Main Board of the Stock Exchange of Hong
Kong.
Forward-Looking Statements
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident," "guidance," and similar
statements. Among other things, statements that are not historical
facts, including statements about Sea's beliefs and expectations,
the business, financial and market outlook, and projections from
its management in this announcement, as well as Sea's strategic and
operational plans, contain forward-looking statements. Sea may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases, and other
written materials, and in oral statements made by its officers,
directors, or employees to third parties. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: Sea's goals and strategies; its future
business development, financial condition, financial results, and
results of operations; the growth in, and market size of, the
digital entertainment, e-commerce and digital financial services
industries in the region, including segments within those
industries; changes in its revenue, costs or expenditures; its
ability to continue to source, develop and offer new and attractive
online games and to offer other engaging digital entertainment
content; the growth of its digital entertainment, e-commerce and
digital financial services platforms; the growth in its user base,
level of user engagement, and monetization; its ability to continue
to develop new technologies and/or upgrade its existing
technologies; growth and trends of its markets and competition in
its industries; government policies and regulations relating to its
industries; and general economic and business conditions in the
region. Further information regarding these and other risks is
included in Sea's filings with the SEC. All information provided in
this press release and in the attachments is as of the date of this
press release, and Sea undertakes no obligation to update any
forward-looking statement, except as required under applicable
law.
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SOURCE Sea Limited