Sumo Group

Sumo Group is a British gaming holding from the UK, founded in 2017.

History

2021: Tencent bought Sumo Group for $1.3 billion

In mid-July 2021, Chinese technology giant Tencent announced the purchase of the remaining share of the British holding for the production of video games Sumo Group. The deal is estimated at $1.3 billion.

Tencent already owns an 8.75% stake in Sumo Group and is the second largest shareholder in the company, which has 14 studios in five countries with more than 1,200 employees.

Tencent bought the British gaming holding Sumo Group for $1.3 billion

After the deal with Tencent, Sumo Group shares will stop trading on the London Stock Exchange. Sumo Group entered the exchange in 2017, since then the value of its shares has increased 3.5 times.

Sumo Group owns Sumo Digital, which has worked on various console ports, as well as on its own games, including Crackdown 3, Sackboy: A Big Adventure and Hood: Outlaws & Legends. Sumo creates games for other publishers, including for the arcade service. Apple Other customers and partners of the company include,, Xbox Game Studios Electronic Arts Activision Blizzard and Ubisoft Entertainment

The business will benefit from Tencent's vast video game ecosystem, proven industry experience and its strategic resources that will help Sumo Group achieve long-term success goals, said Sumo Group spokesman Ian Livingston.

Tencent is the world's largest gaming company with shares in giants such as Riot Games and Epic Games. The company said it plans to invest most of its additional profits in cloud services, games and video content in 2021 to compete with ByteDance.

The three Sumo founders who work in this business, Paul Porter, Darren Mills and I are passionate about what we do and are ready to continue performing our roles, "Sumo CEO Karl Cavers said in a statement. - The ability to work with Tencent is something we just couldn't miss. The deal will allow Sumo to reach a new level, giving us the opportunity to truly leave our mark in this amazing industry in ways that were previously unavailable[1]

Notes