Why Tencent spent US$1.3 billion to buy video gaming firm Leyou, but left it to languish | South China Morning Post

When Tencent Holdings beat the likes of Sony to buy Hong Kong-listed video games company Leyou Technologies last year, the acquisition was expected to further boost the internet giant's vast gaming empire. Tencent, which runs the world's largest video gaming business by revenue and Chinese super app WeChat , completed its US$1.3 billion takeover of Leyou in December, which included Canadian subsidiary Digital Extremes - developer of hit online action game Warframe - and a deal with Amazon.com to create a massively multiplayer online role-playing game based on the epic fantasy novel and blockbuster film series The Lord of the…