Tencent Acquiring Sumo Digital for $1.27 Billion

The British developer "firmly believes" that its business will benefit from Tencent's "proven industry expertise and its strategic resources."

Posted By | On 19th, Jul. 2021

Sumo Digital

As reported by Reuters, Tencent will acquire Sumo Digital for $1.27 billion. Shareholders for the latter will receive 513 pence in cash per share with the company being valued a £919 million. Non-executive chairman Ian Livingstone said, “The Board of Sumo firmly believes the business will benefit from Tencent’s broad video gaming ecosystem, proven industry expertise and its strategic resources.”

Carl Cavers will continue to serve as CEO, stating that, “The opportunity to work with Tencent is one we just couldn’t miss.” Co-founders Darren Mills and Paul Porter are also remaining at the company. Sumo Digital has been known over the years for working on high-profile titles like Crackdown 3, Sackboy: A Big Adventure and Team Sonic Racing. It recently released Hood: Outlaws and Legends for multiple platforms.

As for Tencent, the China-based company has been investing in numerous studios throughout the years, including Dontnod Entertainment, Klei Entertainment, PlatinumGames and Fatshark. This is its biggest deal thus far and its 8.75 percent ownership of Sumo Digital makes it the second-largest shareholder in the company. What this means for the developer’s future projects remains to be seen but it should provide a stronger global presence for Tencent.


Tagged With: ,

Amazing Articles You Might Want To Check Out!



Share Your Thoughts Below  (Always follow our comments policy!)



Keep On Reading!

Crash Team Rumble Free Trial is Live Until October 2nd

Crash Team Rumble Free Trial is Live Until October 2nd

Experience five new mini-games and two new maps, Waste Deep and Jazz Junction, with Season 2: Party Mode curre...

Marvel’s Spider-Man 2 – Exclusive Suit Reveals Set for October 12th at New York Comic Con

Marvel’s Spider-Man 2 – Exclusive Suit Reveals Set for October 12th at New York Comic Con

The suit reveals will occur from 4:30 PM to 4:45 PM EST, while the open-world superhero title launches on Octo...

Diablo 4 Developer Update Stream Coming October 4th, Dives into Season of Blood

Diablo 4 Developer Update Stream Coming October 4th, Dives into Season of Blood

A Campfire Chat is also scheduled for October 10th to discuss upcoming class balance changes, reworks for in-g...

Overwatch 2 Season 7: Rise of Darkness Launches October 10th

Overwatch 2 Season 7: Rise of Darkness Launches October 10th

The launch trailer for the free-to-play hero shooter's next season, rumored to center on evil spirits, arrives...

Dredge: The Iron Rig DLC Delayed to 2024

Dredge: The Iron Rig DLC Delayed to 2024

Black Salt Games is still delivering additional content this year, with more details, including price and avai...

Cyberpunk 2077: Phantom Liberty Guide – All Increased Criminal Activity Locations

Cyberpunk 2077: Phantom Liberty Guide – All Increased Criminal Activity Locations

Located in Dogtown, this new activity can reward valuable items for taking down powerful targets. Here's how t...