Chinese mega-corp Tencent has announced intentions in acquiring a minority stake in Epic Games. Tencent looks to be involved in all sorts of internet services and holds many related patents. Epic Games president, Mike Capps, says:

"Tencent's investment will empower Epic to help us do even more of what we do best, which is making great games and game technology. Their expertise in the global online gaming market is second-to-none, and the opportunity to work with them to bring richer experiences to players all over the world is irresistible. Epic is excited to be full steam ahead on all of its current plans for this generation of games and the next, with the support of a fantastic partner that believes in our strategy and shares our dream."

No doubt Tencent would be an important partner in tapping into gamers all over China. You can read the entire press release in the comments thread.

Update: Tim Sweeney speaks to the North Carolina News & Observer, saying the deal was about opportunity rather than the infusion of cash.

"Epic has always been very profitable," he said. "We often have a hard time figuring out how to deploy the money that we do have efficiently, given the amounts that games like 'Gears of War' and 'Infinity Blade' produce."

Hey Tim, how about using that mountain of cash to make an Unreal sequel for the PC! hint, hint