The announcement comes direct from Otherside Entertainment.
System Shock 3

Earlier in the day on May 20, Otherside Entertainment announced that development on System Shock 3 is now being supported by everyone's favorite China based mega-corp, Tencent. Yay? Is this a yay situation? Who honestly knows anymore.

Otherside Entertainment made the announcement both via Twitter and through an official statement on their website.

We are happy to announce that Tencent will be taking the System Shock franchise forward. 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.
I see what you did there with the "deep capabilities" remark. I get what you're putting down with that. They're talking about money (probably).

System Shock 3 has been in development limbo since it was first announced back in December 2015. In the time since it was announced, Otherside was hit with a fair number of layoffs. The game also once had a $12 million investment from the trouble Starbreeze. The publishing rights had bounced around a bunch, even landing back at Otherside.

Tencent's involvement in gaming just continues to grow with this current investment. They own portions of Epic Games, Riot, Ubisoft, Activision Blizzard, and countless others.