Tencent Acquires Video Game Developer Sumo for $1.3 Billion

7月23日

BEIJING, July 23 (TMTPOST) — Chinese tech giant Tencent has acquired all the remained stakes in British game developer Sumo Group at £919 million (US$1.26 billion). Sumo Group is a triple A game developer whose subsidiary Sumo Digital was involved in the production of blockbuster titles such as Tomb Raider, and Dungeons and Dragons. 

Tencent first bought a 10% stake in the company at about US$30 million in 2019. The further acquisition of Sumo Group is only part of Tencent’s increasing interest in improving its game investment portfolio in 2021.

Tencent’s Timi Studio has also announced that it will set up a branch in Montreal Canada to develop triple-A level open world experiences for gamers across the globe.

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