British developer Sumo Group is set to be acquired by Chinese conglomerate Tencent in a deal worth US $ 1.3 billion.
This is according to GamesIndustry.biz which says the deal is ready to go, pending final approval from Sumo stakeholders. According to them, business will remain largely as usual after the agreement with the new owners. The company’s three founders, Paul Porter, Darren Mills and studio CEO Carl Cavers, will remain in office.
âThe opportunity to work with Tencent is one that we just couldn’t miss,â Cavers said in a statement. “It would bring another dimension to sumo, giving us opportunities to really make our mark on this incredible industry in a way that was previously out of reach.”
James Mitchell, Chief Strategy Officer of Tencent, added, âTencent is proud to be an investor in Sumo since 2019 and we view the proposed combination as an evolution of our partnership. Calling himself a âcommitted investor in the gaming industry,â Mitchell had nothing but praise for Sumo. He added, “We hold the Sumo team and the games they produce in high regard, and their strategy and innovative spirit have been the foundation of the company’s success for many years.”
Sumo Digital is probably best known as a studio that has created great games in an already established intellectual property. This includes partnerships with Xbox Game Studios on Repression 3 but also PlayStation Studios with Little Big Planet 3 and, more recently, the excellent Sackboy: a great adventure on PS4 and PlayStation 5. Their most recent title was Hood: outlaw and legends which was launched in May.
Assuming final approval, the deal will mark the second over $ 1 billion deal for a UK studio in less than a year, after EA bought Codemasters for US $ 1.2 billion in February.