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Tencent buys British video game Sumo for $ 1.27 billion

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In a year busy with game mergers, another deal has just been announced. Tencent is about buy completely Sumo Group, the British developer behind it LittleBigPlanet 3 and Crackdown 3. The Chinese web giant is offering 513 pence per share for the study, in which it already holds an 8.75 per cent stake, valued at $ 1.26 billion (£ 990 million).

The acquisition brings another major developer into the Tencent fold. Already the largest gaming company in the world, Tencent owns it League of Legends studio Riot Games, and has a financial stake in several publishers including Epic Games, Activision Blizzard, Ubisoft, Bluehole, Paradox Interactive, Supercell, Grinding Gear Games and Yager, with the Discord chat platform. In February, the company acquired a minority position in GhjornuZ Bohemia Interactive developer.

But, Tencent’s dominance has sparked a regular return home and abroad. Earlier this month, Chinese authorities blocked his plan to merge his two livestreaming sites, Douyu and Huya. Tencent is also negotiating an agreement with a U.S. national security panel that would allow it to maintain its stake in U.S. companies. Riot Games and Epic Games, according to to multiple report.

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Sumo’s acquisition gives Tencent a mix of AAA and indie content. Beside LittleBigPlanet 3 and spinoff Sackboy, both published by Sony, Sumo was also back Hitman 2. It also has indie developer based in the UK The Chinese Room (They all went to the Rapture) and Red Kite Games, better known for their gaming ports as well Two Point Hospital. In February, the studio acquired PixelAnt Games in Poland for £ 250,000.

“The company will benefit from Tencent’s extensive video game ecosystem, proven experience in the industry and its strategic resources, which help ensure and promote Sumo’s long-term aspirations and success,” he said. Ian Livingstone, non-executive chairman of Sumo, in a statement. .

Between Microsoft’s acquisition of ZeniMax and EA’s agreement for Codemasters, 2021 is already proving to be a successful year for video game consolidation. Other interesting offers include the purchase of Epic Games Fall Guys Mediatonic studio, the acquisition of Sony get back developer Housmarque and the Facebook takeover of BigBox VR through its Oculus arm.

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