Tencent continues to invest in games
Tencent, which wants to increase its dominance in the gaming industry, is making an important purchase. The company acquires the British Sumo studio.
China-based Tencent, which continues its investments in the game world without slowing down, has signed another agreement. The company is now acquiring the British Sumo studio that developed Sackboy for Sony and Crackdown for Microsoft.
According to the news reported by Gameindustry.biz, the Chinese technology giant plans to buy the studio, in which it owns 8.75 percent, for $ 1.27 billion. Tencent’s offer represents a slice of 43 percent when looking at the value of Sumo in the stock market.
Tencent is a great opportunity for us”
Carl Cavers, CEO of the studio, said in a statement about the acquisition, “We are passionate about what we do, along with fellow founders Paul Porter and Darren Mills, and are fully committed to continuing our roles. The opportunity to work with Tencent is one we cannot miss. “It will bring another dimension to Sumo and give us the opportunity to truly make our mark on this amazing industry in ways that were not available before.”
Cavers also said that the Tencent side has shown a commitment to support client work and original projects so that it’s unlikely to change too quickly. The acquisition gives Tencent another foothold in the international gaming industry, following significant investments in companies like Epic, Activision and Riot
Sumo Digital, the core staff of Sumo, headquartered in Sheffield, England, has done important work in the game world. The studio developed Sackboy: A Big Adventure for PlayStation 5, as well as Crackdown 3 for Xbox consoles and PC.
The studio also released Snake Pass for multiple platforms in 2017.