Tencent to Acquire Sumo Group for $1.27 Billion
So, if you’ve been reading our blog, you probably remember Tencent, the company aiming to take down late-night gamers. Well, they’re back, and they’re planning to acquire Sumo Group, the UK-based studio behind Sackboy: A Big Adventure for PlayStation 5. Additionally, they’re keeping the three founders of Sumo in the picture.
With this buyout, Tencent gains another leg-up in the international gaming industry. However, EA is growing as well with their acquisition of Codemasters in February. Codemasters is known for racing games. Also, Tencent’s TiMi Studio Group is behind Call of Duty: Mobile and the upcoming game Pokemon Unite.
All in all, Tencent has a lot of irons in the furnace with the Sumo Group acquisition, patroling the web at night, and opening a development studio in Montréal, Canada. So far, it seems like the new studio is going to be working on the challenge, “to create a AAA open-world, service-focused video game…across multiple platforms.” What are your thoughts on this acquisition? Let us know in the comments below!
Resources & Further Reading
Byford, S. (2021, July 19). Tencent is buying British game studio Sumo for $1.27 billion. The Verge. https://www.theverge.com/2021/7/19/22583186/tencent-sumo-digital-buyout-announced-price-acquisition.
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