Tencent: Internet giant buys studio developed for Sony

Tencent: Internet giant buys studio developed for Sony

Tencent

Tencent will soon take over the next studio. This time the company has signed a deal with the Sumo Group, which not only includes Sumo Digital, but also The Chinese Room among its developer studios. Sumo Digital was most recently a close partner of Sony and was responsible for Sackboy: A Big Adventure among other things at the launch of the PS5. But the team has also already cooperated with Microsoft on Crackdown 3.

The Chinese Room has in the past produced, for example, Everybody's Gone to the Rapture or Dear Esther. Tencent is paying around $ 1.27 billion for the takeover. Sumo Group should continue to accept orders from other partners - as was the case with Sackboy: A Big Adventure or Team Sonic Racing - in order to be able to work on big brands in the future.

Now we have to the shareholders finally approve the takeover. According to reports, Tencent already has 27% of its shareholders on its side. In addition, the Internet giant already owns 8.75% of the shares that it had already secured before the takeover. Tencent has participated in many development studios in recent years. For example, the Chinese company owns 40% of the shares in Epic Games. Riot Games is even completely owned by Tencent. As recently as last week, rumors of a takeover of Crytek began to circulate. With TiMi Studios (Call of Duty Mobile, Honor of Kings) Tencent is now also one of the studios with the highest turnover in the world.

via IGN



China's Tencent is buying the video game developer behind Hitman 2, Team Sonic Racing, and LittleBigPlanet 3 for $1.3 billion

a man standing in front of a building: People walking past the Tencent headquarters in the southern Chinese city of Shenzhen, in Guangdong province. NOEL CELIS/AFP via Getty Images © NOEL CELIS/AFP via Getty Images People walking past the Tencent headquarters in the southern Chinese city of Shenzhen, in Guangdong province. NOEL CELIS/AFP via Getty Images
  • Tencent said it's buying video game developer Sumo for $1.27 billion.
  • The Chinese tech firm already has an 8.75% stake in Sumo.
  • Sumo's titles include Team Sonic Racing and LittleBigPlanet 3.
  • See more stories on Insider's business page.

    • China's Tencent is buying Sumo, the video game developer behind Team Sonic Racing and LittleBigPlanet 3, for nearly $1.3 billion.


    Shares in Sumo, of Britain, jumped 42% on Monday to a record high.


    Tencent, the world's largest gaming company, is on the hunt to acquire foreign video game developers. It already has stakes in Epic Games, the company behind Fortnite, Riot Games, and Ubisoft.


    Sumo has accepted Tencent's offer of 513 pence (703 cents) cash per share, which values Sumo at £919 million ($1.26 million), the companies said Monday.


    Sumo's games include:

  • Team Sonic Racing
  • LittleBigPlanet 3
  • Hitman 2
  • Sackboy: A Big Adventure
  • Crackdown 3
  • Snake Pass
  • Hood: Outlaws & Legends

    • Tencent already has an 8.75% stake in Sumo, making it the British developer's second-biggest shareholder, Reuters reported.


    If the deal goes through, Sumo will be the latest UK video games company to be purchased for more than $1 billion, following EA's acquisition of Codemasters in February.


    Sumo CEO Cavers said in a statement to Insider: 'The three founders of Sumo, who work in the business, Paul Porter, Darren Mills and I are passionate about what we do and are fully committed to continuing in our roles. The opportunity to work with Tencent is one we just couldn't miss.'