The Chinese conglomerate Tencent bought a stake in Sumo Group, owner of the Sumo Digital studio.
The Chinese company has entered into an agreement with Perwyn, an investor in Sumo Group and the development studio to acquire 15 million shares, which would give Tencent a 9,96% stake in Sumo Digital.
Following the sale of its shares to Tencent, Perwyn's stake will be reduced to 17,38%.
“We are pleased to invest in Sumo Group, a leading independent co-development studio,” said Tencent Games CEO Steven Ma. “We look forward to helping support Sumo’s growth and exploring collaborations with the company to bring more interactive entertainment experiences to global audiences.”
Sumo Group CEO Carl Cavers added: “We are pleased that Tencent has decided to acquire a stake in the company and look forward to working with Tencent to explore joint development opportunities. When Perwyn invested in Sumo Digital in September 2016, we were a private company with annual revenues of approximately £24 million and operating in two countries. We are now a public company and, following the recent announcement of our new studio in Warrington in the North West of England, we now have ten studios in three countries and reported revenues of over £38 million for the year ended 31 December 2018. I would like to once again thank Perwyn for their initial investment and for their ongoing support of the business.”
Tencent already fully owns League of Legends developer Riot Games and has stakes ranging from 5% to 85% in Ubisoft, Activision Blizzard, Bluehole, Glu Mobile, Epic Games, Paradox Interactive, Miniclip, Supercell and Grinding Gear Games.
Source: 3dnews.ru