Right of First Refusal (ROFR) contract binds both parties in which Tencent would give exclusive rights of first publishing to Garena

Garena, of Sea Limited, has announced today that it has signed a letter of intent with Tencent Holdings Limited detailing that Garena will have a right of first refusal to publish Tencent’s mobile and PC games effective for five years. The publishing territories are to be applied in Indonesia, Taiwan, Thailand, the Philippines, Malaysia, and Singapore.

With this new arrangement, the existing partnership between Garena and Tencent is further solidified as Garena has a track record of publishing Tencent’s game portfolio including Arena of Valor and League of Legends.

Immediately after the signing, both companies are to work together in distributing and promoting top games from Tencent in markets that are deemed relevant.

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“As a global leader in the video games industry, Tencent has a portfolio that includes some of the world’s most popular and engaging titles. This arrangement can bring top quality IP to the large and growing games community in our region. We are excited to work with Tencent even more closely together to develop new opportunities in the relevant markets over the long run,” said Forrest Li, Chairman and Group Chief Executive Officer of Sea.

Martin Lau, President of Tencent gave a nod to Li’s statement by highlighting Garena’s vast market coverage and the company’s understanding of the dynamics in these regions.

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“Our long-term partnership and collaborations with Garena on key titles have been successful, and we look forward to closely working with Garena in offering users new and exciting titles in the years ahead,” Lau closed.
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Image Credit: Deviantart by Klebror

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