Tencent Games is reportedly planning to acquire Xiaomi Corporation (SEHK:1810)'s BlackShark Gaming division in a deal worth approximately over $470 million. According to GSMArena, details surrounding the acquisition are scarce and an official statement on the matter is still missing. Post acquisition, the gaming smartphone making company will also undergo a business transformation after the acquisition process is complete. The new deal with Black Shark will focus on cooperation in the field of gaming phones with the end goal of giving users an improved mobile gaming experience. Earlier smartphone makers like ASUS partnered with Tencent Games to bring their ROG Phone II and also the Tencent customized Elite version in China.