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Tencent buys Sumo studio for $ 1.27 billion

Without any prior notice to predict this movement, Tencent just announced a public offering for fully acquire the Sumo Group studio, British developer known for titles like LittleBigPlanet, Sackboy, Hitman 2 and Crackdown 3, taking an 8.75% stake, valued at more than $ 1.27 billion.

As shared by Ian Livingstone, Non-Executive Chairman of Sumo, “The company will benefit from Tencent’s broad gaming ecosystem, proven industry experience and strategic resources, which will help secure and advance the aspirations and success of long term”.

With this acquisition, Tencent further reaffirms its position as the world’s largest gaming company, currently being the owner of large studios such as Riot Games, as well as the holder of large financial stakes in other companies such as Epic Games, Activision Blizzard, Ubisoft, Bluehole, Paradox Interactive, Supercell, Grinding Gear Games and Yager, and even the chat platform of voice, Discord.

The acquisition of Sumo gives Tencent a mix of independent and AAA content. And it is that in addition to the titles directly worked by the studio, such as the games previously mentioned and published by Sony, Sumo Group also owns other independent developers such as The Chinese Room (Everybody’s Gone to the Rapture), Red Kite Games (Two Point Hospital) or the newly acquired PixelAnt Games.

Without a doubt, 2021 is being a busy year for the video game industry, being the scene of other important acquisitions such as the purchase of ZeniMax by Microsoft, the Electronic Arts agreement with Codemasters, the acquisition by Epic Games of the Mediatonic studio, the acquisition of BigBox VR by Facebook through its Oculus division, or the most recent acquisitions of Housmarque and Bluepoint by Sony.

So, with still half a year ahead, and a fairly favorable forecast for the return to the distribution of graphics cards and next-generation consoles, it seems that the gaming scene will soon take a quite interesting turn again.

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