Benzinga | Apr 14, 2021 09:26AM EDT

ByteDance Intensifies Video Game Competition Through C4games Acquisition: Reuters

* TikTok and Douyin parent ByteDance's gaming unit Nuverse has acquired C4games to intensify the video game business competition with Tencent Holdings Ltd (OTC: TCEHY), Reuters reports.

* The financial terms of the transaction were not disclosed.

* Nuverse agreed to acquire Shanghai's gaming studio Moonton Technology in March.

* Price action: TCEHY shares traded higher by 0.68% at $80.48 in the premarket session on the last check Wednesday.