Chinese giant Tencent acquires British gaming company Sumo for 1.1 billion euros

Chinese tech giant Tencent has acquired the British Sumo Group for £919 million, which has been transferred for around €1.1 billion. The 14 Sumo studios are collaborating on some of the biggest games, including those in the Forza Horizon, Hitman, and LittleBigPlanet series.

Tencent and Sumo Group have reached an acquisition agreement, Reuters wrote. China’s Tencent already owns an 8.75 percent stake in the British company and now wants to take over the whole thing. Sumo Group owns Sumo Digital and all associated studios. The British gaming company has a total of 14 studios and more than 1,200 employees, according to Reuters.

from Van Sumo from the studio He often collaborates with other developers on games. The company has contributed to the games Forza Horizon, Forza Motorsport 7, Crackdown 3 and Hitman 2. Sumo Digital is also known as LittleBigPlanet 3 and Sackboy: A Big Adventure. Designed in collaboration with Sony, these games are exclusively for the PlayStation console. It is not yet known what the consequences of the acquisition will be.

Sumo Digital was founded in 2003 by four former Infogrames employees. China’s Tencent Holdings is one of the world’s largest technology companies and, for example, has a social network, search engine and chat app for the Asian market. It is the largest gaming company in the world by revenue. The profit is coming Especially free games. In recent years, Tencent has bought or acquired stakes in several studios and game companies.

Tencent owns Riot Games, known as League of Legends. TiMi Studios is also owned by Tencent. This is the studio behind the billion-dollar smartphone games Call of Duty: Mobile, Honor of Kings, and Arena of Valor. Tencent also owns 40 percent of Epic Games. Tencent’s total sales last year were around 62 billion euros. From here, 20 billion euros came from games.

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