UPDATE:ÂIt seems that theÂSystem ShockIP still is fully in the hands of Nightdive Studios, meaning that Tencent doesn’t own the rights to the entire franchise. Nightdive’s CEO clarified as much on Twitter just recently.

Again, OtherSide’s wording in this announcement was definitely less than stellar and potentially prompted more questions than answers. From what we’re able to gather now, it seems as though Tencent is now just supporting the ongoing development ofSystem Shock 3.

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This original story can be found below.

The status of theÂSystem Shockfranchise, and most notably that ofÂSystem Shock 3, has been in limbo for a few months now. Earlier this year, it was reported that the development team behind the third entry in the series at OtherSide Entertainment waslaid off in droves. Now, it seems as though the developer is passing off the IP altogether.

Essentially out of nowhere, OtherSide today took to Twitter today and announced that Tencent will “taking theÂSystem ShockÂfranchise forward.” The wording in this message is a bit strange, but it seems to imply that the license for the IP now belongs to Tencent, which is a Chinese tech conglomerate. Tencent is most notable for having stakes in companies like Riot Games and video games such asÂPlayerUnknown’s Battlegrounds.

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As for why OtherSide is now giving upÂSystem Shockto another company, the developer acknowledged that the scope of the project was seemingly a bit too much. “As a smaller Indie studio, it had been challenging for us to carry the project on our own,” OtherSide said in a follow-up tweet. “We believe Tencent’s deep capabilities and expertise as a leading game company will bring the franchise to new heights.”

Strangely enough, this is the second time within 18 months that theÂSystem Shockrights have changed hands. Just last year,publisher Starbreeze sold the publishing rights to OtherSide Entertainmentafter having a string of troublesome financial quarters. Jump forward barely one full calendar year and the license is again being passed off.

While it remains to be seen what Tencent ends up doing withÂSystem Shock, one thing is for sure: the company has very deep pockets. Hopefully, the project won’t run into the same issues that have transpired previously.