OtherSide Entertainment confirmed the change with a short statement.

"As a smaller Indie studio, it had been challenging for us to carry the project on our own. We believe Tencent’s deep capabilities and expertise as a leading game company will bring the franchise to new heights."

While Nightdive Studios still owns the franchise/IP, System Shock 3 was licensed out to Warren Spector's OtherSide Ent. outfit in 2015.

Initially publishing was picked up by Starbreeze in 2017 but after it's downward spiral the rights reverted back to OtherSide Entertainment in 2019.

Whether OtherSide Entertainment is still working on System Shock 3 in any capacity, or whether Tencent Holdings will pick another developer, is unlcear at this point.