Tencent is buying British game studio Sumo for $1.27 billion

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Tencent is buying British game studio Sumo for .27 billion

Tencent has announced plans to buy British video game company Sumo Group for $1.27 billion. The Chinese tech giant already has an 8.75-percent stake in the developer, as Gamesindustry.biz reports, and the offer represents a 43-percent premium on Sumo’s current valuation.

Based in Sheffield, England, Sumo’s well-regarded core studio Sumo Digital has carried out contract work for many of the biggest names in gaming. It developed Sony’s PlayStation 5 launch title Sackboy: A Big Adventure and was the primary studio behind Microsoft’s Crackdown 3 for Xbox consoles and PC. In 2017 Sumo released Snake Pass for multiple platforms, its first foray into original IP.

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