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

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

It is an occupied year for gaming consolidations, another contract has just been declared. Tencent is to completely amass Sumo Group, the UK creator behind LittleBigPlanet 3 and Crackdown 3. The Chinese net gaming giant is giving 513 pence per stake for the headquarters, in which it already occupies an 8.75 per cent interest, valuing it at $1.26 billion (£990 million).

The accession gives rise to another important creator into the Tencent furrow. Already the earth’s enormous gaming corporation, Tencent occupies League of Legends studio Riot Games and has an economic investment in many publishers comprising Epic Games, Activision Blizzard, Ubisoft, Bluehole, Paradox Interactive, Supercell, Grinding Gear Games and Yager, along with conversation outlet Discord. In February, the corporation amassed a faction role in DayZ innovator Bohemia Interactive.

But, Tencent’s preeminence has accelerated regulatory pushback at home and internationally. Earlier this month, Chinese councils obstructed their proposal to integrate their two-game live streaming websites, Douyu and Huya. Tencent is also reconciling a treaty with a US national security committee that would authorize it to maintain its investments in US corporations Riot Games and Epic Games, according to numerous summaries.

The Sumo accession hands Tencent a combination of AAA and indie volume. Alongside LittleBigPlanet 3 and spinoff Sackboy, both disclosed by Sony, Sumo was also behind Hitman 2. It also acquired UK-based indie innovator The Chinese Room (Everybody’s Gone to the Rapture) and Red Kite Games, reasonably remembered for refuges of games like Two Point Hospital. In February, the headquarters acquired Poland’s PixelAnt Games for £250,000.

“The company will profit from Tencent’s assembly video gaming ecosystem, proven enterprise technique and its strategic reserves, which will boost safeguard and increase the aspirations and long-term accomplishment of Sumo,” Ian Livingstone, non-executive chairman of Sumo, said in an announcement.

Between Microsoft’s accession of ZeniMax and EA’s contract for Codemasters, 2021 is already proving to be a blockbuster year for video game mergers. Other heated bargains include Epic Games’ accession of Fall Guy’s studio Mediatonic, Sony’s investment of Returnal innovator Housmarque and Facebook’s commandeering of BigBox VR through its Oculus arm.

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