British developer Sumo Group looks set to be acquired by Chinese Conglomerate Tencent in a deal worth $1.3 billion USD.
That’s according to GamesIndustry.biz who say that the deal is all ready to go through, pending final approval from Sumo’s stakeholders. According to them, business will largely stay as usual following the deal under the new owners. The company’s three founders—Paul Porter, Darren Mills and studio CEO Carl Cavers— will stay in their roles.
“The opportunity to work with Tencent is one we just couldn’t miss,” Cavers has said in a statement. “It would bring another dimension to Sumo, presenting opportunities for us to truly stamp our mark on this amazing industry, in ways which have previously been out-of-reach.”
Tencent’s Chief Strategy Officer James Mitchell added: “Tencent is proud to have been an investor in Sumo since 2019, and we view the proposed combination as an evolution of our partnership.” Calling themselves a “committed investor in the game industry,” Mitchell had nothing but praise for Sumo. He added “We hold Sumo’s team and the games they produce in high regard, and its strategy and spirit of innovation have underpinned the success of the business over many years”
Sumo Digital is probably best known as a studio who’ve made some great games in already established IP. This includes partnerships with Xbox Game Studios on Crackdown 3 but also PlayStation Studios with Little Big Planet 3 and, most recently, the excellent Sackboy: A Big Adventure on the PS4 & PlayStation 5. Their most recent title was Hood: Outlaws & Legends which launched back in May.
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Assuming final approval, the deal will mark the second $1 billion+ deal for a UK studio in less than a year, after EA snapped up Codemasters for a cool $1.2 billion USD back in February.