The “ogre” Tencent is insatiable. Undisputed leader of the video game market in China, the company is now about to buy Sumo Group, which has 14 video game studios in its ranks.
Already the company's second largest shareholder with 8,75% of the shares, Tencent will become the majority shareholder once the transaction is valued at 919 million pounds (1,07 billion euros; 1,27 billion dollars) finalized. Sumo shareholders will each receive 513 pence in cash per share, or 1,43 times what they were worth at the last close of trading (358 pence).
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A beneficial takeover for the group's studios
Working on no less than 40 different projects, Sumo Group is excited about Tencent's interest. Ian Livingstone, the company's non-executive chairman, said, “Sumo's board strongly believes that the company will benefit from Tencent's extensive video game ecosystem, proven industry expertise and strategic resources. »
Sumo Group is mainly known in our latitudes for the achievements of its studio Sumo Digital, recently working on titles like Sackboy: A Big Adventure, Team Sonic Racing or Hood: Outlaws & Legends.
Already in the capital of Remedy Entertainment (Alan Wake, Control), Epic Games (Fortnite) or even Riot (League of Legends, Valorant), Tencent continues to place its marbles everywhere on the world video game chessboard without , for the moment, meddle in the editorial policy of its new acquisitions.
