Chinese online live show platform Huya.com announced that Tencent's wholly-owned subsidiary Linen Investment Limited recently sent a notice to Huya, stating that the company had exercised equity to purchased 16,523,819 class B ordinary shares of Huya for about USD262.6 million.

On the completion of the transaction, Tencent will become the largest shareholder of Huya and its voting rights will increase to 50.1%.

Dong Rongjie, CEO of Huya, later sent out an all-employee letter, which said that after joining the Tencent family, the company would maintain its independent operation.

Dong said that after the equity change, Huya would have a broader track. He hoped that everyone could embrace the change with a positive attitude and get back to work.

In regards to the future development, Dong said the company needed to continue its "technology-driven entertainment" idea, stick to its strategy and evolve at full speed. In addition, it would enhance its core diversified advantage in overseas business, meet customer demands to the utmost extent, and provide new live broadcast experience beyond imagination to users in China and abroad.