Tencent, a Chinese computer giant, has purchased UK videogame company Sumo for £919 million. The deal combines Sumo’s game library with Tencent’s more well-known titles. Tencent is one of the world’s major video game publishers, with a stake in both Fortnite and PlayerUnknown’s Battlegrounds, two popular Battle Royale-style games (PubG). Last year, Sumo, a Sheffield-based company with 14 studios in five countries and over 1,200 employees, launched video games such as Hotshot Racing, Sackboy: A Big Adventure, and WST Snooker. Sumo’s CEO, Carl Cavers, stated that the “chance to cooperate with Tencent is one we just couldn’t pass up.”
Suno shareholders will receive 513p per share under the terms of the agreement, a 43 percent premium over Friday’s closing price./n
