The Chinese technology giant is paying more than a billion euros for this.
Chinese technology giant Tencent is expanding its gaming expertise with the multi-billion dollar acquisition of British video game developer Sumo Group. The company with 13 offices in five countries will be taken over for 919 million pounds (1.1 billion euros), said Tencent. The Chinese are no strangers to sumo and were most recently already the second largest shareholder with 8.75 percent.
The purchase price corresponds to a surcharge of 43 percent on the last closing price of Sumo, which has developed games for PCs, mobile phones and consoles and has made a name for itself primarily with snooker and racing games. Tencent is the world’s second largest video game provider after Sony and has a stake in the companies that brought out Fortnite and League of Legends.