Asia Tech Wire (July 22) -- Tencent has acquired a company owned by Nuverse, the gaming division of TikTok owner ByteDance, according to the latest market news.

Shanghai Aojue Digital Technology Co., Ltd. has recently undergone an industrial and corporate change, with the former wholly-owned shareholder, Shanghai Mokun Digital Technology Co., Ltd. under Nuverse, withdrawing from the company and adding Tencent's Guangxi Tencent Venture Capital Co Ltd as a wholly-owned shareholder.

Nuverse is ByteDance's game development and distribution unit, specializing in game agency and development.

In November last year, news broke that ByteDance will close Nuverse and completely withdraw from the game business.

And this year, sources said that Tencent has taken over part of ByteDance's game business.