Report: Tencent could sink $470M into Battlegrounds dev Bluehole

Chinese tech outfit Tencent might be looking to sink more cash into PlayerUnknown's Battlegrounds developer Bluehole. 

As reported by The Korea Herald, the company wants to purchase a 10 percent stake in Bluehole for around 500 billion won ($468 million). 

Tencent already owns around 1.5 percent of the studio, meaning its overall stake would rise to 11.5 percent.

Any such deal would make Tencent the second-largest Bluehole shareholder, behind company founder and chairman Chang Byung-gyu -- who currently holds a 20.6 percent stake.

Bluehole has confirmed it's looking for investors, although stopped short of naming names. That said, the pair are on good terms, having already joined forces to bring Battlegrounds to China on smartphones and PC. 

Speaking of the popular battle royale shooter, Battlegrounds has gone from strength-to-strength since the pair linked up in November last year, surpassing 3 million concurrent players on Steam, crossing 30 million players worldwide, and attracting over 3 million players on Xbox One.