Tencent pays $500 million for big stake in Korean mobile gaming company

Chinese web and game company Tencent (HKG:0700) is boosting its mobile gaming prowess today by paying US$500 million for a stake in South Korea’s CJ Games. CJ Games makes a mix of casual and more in-depth mobile RPG titles like Taiming Monsters, Every Vroom Vroom Vroom, and Special Force 2. Many of the casual games are created to integrate with Korean messaging app KakaoTalk and its social gaming features.