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China tech

Tencent turns to Southeast Asia after Beijing clampdown

Chinese conglomerate signs 5-year sales deal with Singapore's Garena

The deal gives Sea’s digital entertainment arm Garena a five-year right of first refusal to sell Tencent’s mobile and PC games in Southeast Asia.   © Reuters

SINGAPORE -- Tencent Holdings has signed a deal to give Singapore-based online game publisher Sea the right to sell its game titles in Southeast Asia, as the Chinese internet conglomerate looks to diversify revenue sources in the face of a clampdown by Beijing. 

New York-listed Sea is Southeast Asia's leading online gaming company with a market capitalization of over $4 billion. Tencent holds around 30% of the company, and both have partnered in game developing and other activities since 2010.

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