Streaming video service, iflix, has possibly been acquired by China’s Tencent Holdings, according to a report by Lowyat.

Earlier today, it was discovered that the name of the company name displayed on both iflix’s Google Play and App Store pages has been updated to that of Ren Feng Media Tech Inc, a subsidiary of Tencent Holdings.

According to the report, iflix declared a net loss of $158.1 million in 2018, and as of September 2019, the company had just $12.7 million in cash reserves.

This acquisition is likely very beneficial to Tencent, as the company will now have a new avenue to distribute China-produced content in the SouthEast Asian region via iflix.

iflix users have also often expressed discontent that the streaming service lacked much international content, making it less compelling to Netflix.

This could all change if Tencent has taken over the company, and the beginning of much more Chinese content in SouthEast Asia.