Tencent announced the purchase of British video game developer Sumo Group in a $1.27 billion deal.
As noted by Gamesindustry.biz, the Chinese holding previously owned 8.75% of Sumo Group shares, and the amount that Tencent agreed to pay for the remaining shares is 43% higher than the company’s market value.
Sumo Digital, part of the Sumo Group, based in Sheffield, UK, is known for a number of notable projects, including Crackdown 3, Sackboy: A Big Adventure, and Hood: Outlaws & Legends. The Sumo Group also includes The Chinese Room, known for its projects Dear Esther, Amnesia: A Machine for Pigs, and Everybody’s Gone to the Rapture.
Sumo Group co-founder and CEO Carl Cavers said he and his partners (Paul Porter, and Darren Mills) remain fully committed to creating a quality gaming experience, and the partnership with Tencent is a “must not be missed” opportunity.
“This will open up a new window of opportunity for the company and truly leave its unique mark on the amazing gaming industry through new ways that were previously unavailable.”
Karl Cavers,
Co-founder and CEO of Sumo Group
For Tencent, the Sumo Group acquisition is another foothold in the international gaming industry after major investments in global gaming companies such as Epic, Riot, Activision, and Ubisoft.
This is the second major deal with a UK game developer since the start of the year, with EA finalizing its acquisition of racing game developer Codemasters in February.