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Sept 27 (Reuters) - Space and Time, a decentralized data analytics platform, secured $20 million in funding from a group of investors led by Microsoft venture capital arm M12, valuing the company at $300 million.

HONG KONG, Oct 1 (Reuters) - Tencent is resetting its M&A strategy to put more focus on buying majority stakes mainly in overseas gaming companies, as the tech giant eyes global expansion to offset slowing growth at home in China, people with direct knowledge of the matter said.

"There is massive amounts of data and use cases coming from blockchain technology's multi-chain world, and insights and data from centralized data stores ... and Space and Time sits at the bridge that links them," Holiday said.

'I will say that this case is definitely a time to remind parents that it's very important to know who your children are friends with, whether that's in the classroom, social media apps, Snapchat, TikTok and then also gaming platforms.'

The company, which aims to run analytics on data stored on blockchain as well as outside of it for smart contracts, plans to use the funding to hire more engineers, said Nate Holiday, co-founder, Space and Time.

'It's a PR disaster, possibly sets back production and hurts morale,' financial services company Jefferies wrote in a client note, warning the potential leak of the game's source code could pose a bigger threat.

From 2015 to 2020, the owner of China's number one messaging app WeChat 150 investments at home totalling $75 billion, compared to 102 deals worth $33 billion in overseas markets, according to Refinitiv data.

"We believe Tencent will continue to make reasonable investments to acquire quality gaming content and talents and deepen partnerships with top-tier studios worldwide in order to step up its investments and presence in overseas markets," said Citi analysts in a report in early September.

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Apart from the core gaming sector, Tencent is also looking to snap up global assets, in particular in Europe, related to the so-called metaverse, said one of the sources and another source with direct knowledge of the matter.
Two weeks ago in New York City at Fast Company's 8th annual Innovation festival, the actress spoke about the success of the company she co-founded, Once Upon a Farm, saying, ‘The business has grown a lot. As a matter of fact, when we were here last time we were less than $1 million a year and now by the end of this year we're in the $100 million dollars.'

‘The second 12-year-old female from Lufkin, who Sheriff's investigators believe was involved with the planning of the shooting, was taken into custody last week and has been charged with conspiracy to commit murder.'

Now in over 11,000 retail stores in North America, and with a robust direct-to-consumer and eCommerce platform, the baby-food company is expected to double again in 2022 based on their growing product portfolio. 

'We recently suffered a network intrusion in which an unauthorized third party illegally accessed and downloaded confidential information from our systems, including early development footage for the next Grand Theft Auto,' Rockstar said in a statement. 

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Elsewhere, Tencent also seeks to increase its investment in and make deeper forays into Southeast Asia as it sees the region - home to 650 million people - as having potential to replicate the success of China's internet boom, said two of the sources.

Tencent's pursuit of bigger stakes in its existing gaming portfolio or new targets would give the company a bigger say in such firms' businesses and also help it secure the intellectual property rights of popular games, said the four sources.

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