According to foreign media reports, Tencent announced plans to acquire Sumo Group, a British video game company, for US$1.27 billion, after Tencent already held an 8.75% stake in the developer.
There are ten game studios under the Sumo Digital brand, and four game studios belong to the Sumo Group. In addition, it also owns the British visual design company Atomhawk.
According to reports, Tencent offered to buy Sumo’s equity at 513 pence per share, which is 43% higher than the previous closing price of the British company. Sumo is valued at approximately 919 million pounds ($1.26 billion). Prior to this, Tencent had already purchased some shares of Sumo Group in 2019, and the current shareholding ratio is about 8.75%.
CEO Carl Caves said in a statement: “We cannot miss the opportunity to cooperate with Tencent. It will provide Sumo with an excellent opportunity to truly make our mark in this industry.”
In addition, Tencent’s shares in game developers such as Riot Games, Funcom, Supercell, Dontnod Entertainment, Netmarble, and Epic Games have given Tencent a firmer foothold in the international game industry.
Larry Norris is a journalism graduate with a keen interest in covering news – specifically top trending. He has a keen eye for technologies and has predicted quite a few successful startups over the last couple of years. Larry’s goal with this website is to report accurately on all kinds of news and have a great deal of passion for timely and active reporting. Larry is diligent and proactive when it comes to news reporting.
Email: [email protected]
Address: 1083 Republic Avenue East, Monroe, IA 50170, USA
Contact number: 641-741-7672