Tencent paid $330M for 40% of Epic Games

Last year, Epic Games sold a 40 percent ownership stake to China’s Tencent, according to an interview with Epic Games founder Tim Sweeney. That makes the deal one of the biggest investments in games last year, and it values Epic Games at $825 million.

GamesBeat weekly roundup: DICE Summit news and more

Here’s some of the stories that ran only on GamesBeat this week. We’re running more stories exclusively on the GamesBeat section of VentureBeat now, particularly when the stories are mainly of interest to game readers. The broader interest stories are running on VentureBeat as well. And please visit the GamesBeat section to catch up on game news. We’re ramping up our game coverage, so you’ll find more and more news at GamesBeat.

Epic’s 3D graphics wizard Tim Sweeney says business and technology are “intricately linked” (interview)

Tim Sweeney is one of the gods of 3D graphics in video games. He is the founder and chief executive of Epic Games, the maker of blockbuster video games from Unreal to Gears of War. At the upcoming 2012 D.I.C.E. Summit in Las Vegas, Sweeney will be inducted into the Academy of Interactive Arts & Sciences Hall of Fame and he’ll be giving a talk for the first time at the exclusive industry event. Sweeney has led Epic Games for more than two decades and is the technological wizard behind the company’s industry-leading 3D graphics. Not only does Sweeney enable Epic’s designers to create some of the coolest games, which are catalysts for creativity that inspire the rest of the game developers. He also built the Unreal Engine, which Epic licenses to the rest of the game industry, raising the overall graphics quality of many games. Sweeney has led the company in its transition from PC game maker to console game maker and has helped it expand into iPhone and iPad games. Sweeney is a shy programmer, until you get him in a discussion about what is right when it comes to a technology decision. He is an advocate of open technology, and he has played a big role in pioneering 3D graphics. At Raleigh, N.C.-based Epic, his job is to see the future of games and create the technology that will deliver it to consumers’ living rooms with the highest fidelity. We’ll be covering his award ceremony and talk at the Dice Summit, which takes place Feb. 8-10. Meanwhile, we were able to interview him recently. Here’s an edited transcript of our interview with Sweeney.