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Riot Video games mum or dad firm Tencent is about to buy one of many UK’s well-known recreation growth studios.
Chinese language gaming large Tencent has made a bid value virtually £1bn to amass Sumo Group, which owns Atomhawk, Pipeworks Studios and Secret Mode, in addition to Sumo Digital, which consists of a number of UK studios together with Sumo Nottingham and Sumo Sheffield.
Sumo Digital has produced a variety of video games over time, together with LittleBigPlanet 3, Sackboy: A Huge Journey, Crackdown 3, a number of Forza titles and most not too long ago Hood: Outlaws & Legends. It has additionally been employed by and partnered with different recreation firms and devs, for instance it has partnered with IO Interactive on the Hitman collection.
Tencent already had a stake of round 8% in Sumo Group, and this newest proposal may see it take full possession of the UK video games firm. The precise bid is $1.27bn (£919m).
Tencent has a stake in lots of video games and esports companies, together with 100% possession of League of Legends developer Riot Video games, 40% in Fortnite dev Epic Video games, 5% in Overwatch dev Activision Blizzard, 5% in Rainbow Six dev Ubisoft, greater than 80% in Conflict Royale dev Supercell and others.
“Tencent intends to convey its experience and sources to speed up the expansion of Sumo each within the UK and overseas, supporting Sumo out there for top-notch inventive expertise, and the UK as a hub for recreation innovation.”
James Mitchell, Tencent
“The three founders of Sumo, who work within the enterprise, Paul Porter, Darren Mills and I are captivated with what we do and are totally dedicated to persevering with in our roles,” CEO Carl Cavers mentioned in a press release, as reported by GamesIndustry.biz.
“The chance to work with Tencent is one we simply couldn’t miss. It will convey one other dimension to Sumo, presenting alternatives for us to actually stamp our mark on this wonderful business, in methods which have beforehand been out-of-reach.”
James Mitchell, Tencent’s chief technique officer, added: “Tencent is proud to have been an investor in Sumo since 2019, and we view the proposed mixture as an evolution of our partnership. Tencent intends to convey its experience and sources to speed up the expansion of Sumo each within the UK and overseas, supporting Sumo out there for top-notch inventive expertise, and the UK as a hub for recreation innovation.”
Ian Livingstone, non-executive chairman of Sumo, commented: “The board of Sumo considers that the acquisition is in one of the best pursuits of all stakeholders within the firm and intends to unanimously suggest this provide to shareholders. Tencent’s provide of 513p per share demonstrates the great achievements of the administration crew, each monetary and operational.”
Sumo Group employs greater than 1,200 individuals worldwide throughout 14 studios. Earlier this 12 months it was recognised as one of many High 100 Giant Greatest Firms to work for within the UK.
Earlier this 12 months, EA bought one other UK-based developer: Codemasters.
Dom is an award-winning author who graduated from Bournemouth College with a 2:1 diploma in Multi-Media Journalism in 2007.
A eager League of Legends and World of Warcraft participant, he has written for a variety of publications together with GamesTM, Nintendo Official Journal, business publication MCV in addition to Riot Video games and others. He labored as head of content material for the British Esports Affiliation up till February 2021, when he stepped again to work full-time on Esports Information UK and as an esports advisor serving to manufacturers and companies higher perceive the business.
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