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Tencent is set to buy Sumo Group – which owns Sumo Digital (Sackboy: A Big Adventure, Crackdown 3), The Chinese Room (Everybody’s Gone to the Rapture, Dear Esther) and more – as part of a $ 1.27 billion.
As reported by GamesIndustry, the Chinese entertainment giant – which already owns 100% Riot Games (League of Legends) and 40% of Epic Games (Fortnite) – has supported Sumo Group’s approach to plans for à la carte work. While Sumo Studios have created their own intellectual property over the years, the group is best known for taking on projects from other companies. This led him to work on major licenses like Sonic and Sackboy, among others.
Sumo Group CEO Carl Cavers said, “The opportunity to work with Tencent is one we just couldn’t miss. It would bring another dimension to Sumo, providing us with opportunities to really make our mark on this incredible industry, in ways that have once been beyond our reach. “
James Mitchell, Chief Strategy Officer of Tencent, wrote: “Tencent intends to contribute its expertise and resources to accelerate the growth of Sumo in the UK and overseas, supporting Sumo in the world-class creative talent and the UK as a gaming hub. We believe the proposed transaction benefits all stakeholders, delivers compelling value to Sumo shareholders, while enhancing Sumo’s business for the to come up. “
The deal has been completed, but is subject to shareholder approval. The Guardian reports that Tencent has already received pledges to support the 27% takeover of shareholders – while Tencent itself already owns 8.75% of Sumo.
Joe Skrebels is the executive editor of IGN News. Follow him on Twitter. Any advice to give us? Want to discuss a possible story? Please send an email to [email protected].
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