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Tencent to buy British video game studio Sumo for $1.27 billion

In a hectic year for gaming unitings, another lot has just been announced. Tencent is to fully acquire Sumo Group, the UK developer behind LittleBigPlanet 3 and Crackdown 3. The Chinese web giant is offering 513 penny per share for the studio, in which it already owns an 8.75 percent bet, appraising it at $1.26 billion( PS990 million ).

The acquisition draws another major developer into the Tencent crimp. Already the world’s biggest gaming companionship, Tencent owns League of Tale studio Riot Games, and has a fiscal stake in various publishers including Epic Games, Activision Blizzard, Ubisoft, Bluehole, Paradox Interactive, Supercell, Grinding Gear Games and Yager, together with chat stage Discord. In February, the company acquired a minority position in DayZ developer Bohemia Interactive.

But, Tencent’s preeminence has triggered regulatory pushback at home and abroad. Earlier this month, Chinese officials blocked its plan to merge its two recreation livestreaming places, Douyu and Huya. Tencent is also negiotiating an agreement with a US national certificate body that would allow it to retain its stakes in US companionships Riot Games and Epic Games, according to multiple reports.

The Sumo acquisition hands Tencent a mix of AAA and indie content. Alongside LittleBigPlanet 3 and spinoff Sackboy, both published by Sony, Sumo was also behind Hitman 2. It also owns UK-based indie developer The Chinese Room( Everybody’s Gone to the Rapture) and Red Kite Games, best knows we ports of sports like Two Point Hospital. In February, the studio purchased Poland’s PixelAnt Games for PS250, 000.

“The business will benefit from Tencent’s expansive videogaming ecosystem, proven industry expertise and its strategic resources, which will help secure and further the aspirations and long-term success of Sumo, ” Ian Livingstone , non-executive chairman of Sumo, said in a statement.

Between Microsoft’s acquisition of ZeniMax and EA’s distribute for Codemasters, 2021 is already turning out to be a blockbuster year for video game consolidation. Other sizzling deals include Epic Games acquisition of Fall Guys studio Mediatonic, Sony’s purchase of Returnal developer Housmarque and Facebook’s merger of BigBox VR through its Oculus arm.

Read more: engadget.com

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