(The screenshot of Honor of Kings)

Tencent, the largest internet company in China and one of the largest in the world, announced on July 29 a £17.7 million ($23.2 million) strategic investment in video game developer Frontier Developments to expand its game market overseas.

The 9 percent stake in the UK’s only listed game developer makes Tencent its second largest stakeholder.

Tencent plans to roll out its most successful game Honor of Kings in Western Europe, this comes after it authorized Warner Bros. and DC Entertainment to create versions for the North American market.

David Braben from Frontier said the strategic investment will help both sides achieve greater scale and give Frontier greater access to the growing Chinese market.

“We believe that gamers in China will become increasingly interested in game genres such as space exploration, theme park management and other segments well-suited to Frontier’s strengths," said James Mitchell, chief strategy officer at Tencent, in a statement.

Shares in Frontier rose as much as 10.3 percent to 579 pence in London.