Skip to main content

Tencent Buys A Stake In Yet Another Game Studio

Tencent, the Chinese internet giant, has invested in yet another video game studio. The company's latest investment is in the big British game developer Sumo Digital's owner, Sumo Group. According to GI.biz, Tencent has acquired 15 million shares of the company.

Tencent did so through a deal with the investment group Perwyn, which sees its ownership of Sumo Group fall to 17.38 percent. Tencent owns 9.96 percent of Sumo Group as part of this deal. Terms of the investment were not disclosed any further.

"We are glad to invest in Sumo Group, a leading independent co-development studio," Tencent Games boss Steven Ma said. "We look forward to supporting Sumo's growth and exploring collaborations with the Company to bring more interactive entertainment experiences to global audiences."

Sumo Group CEO Carl Cavers said, "We are delighted that Tencent have chosen to acquire a shareholding in the company, and we look forward to working with Tencent to explore co-development opportunities."

This is just the latest gaming investment from Tencent. The company already completely owns or has a controlling interests in League of Legends studio Riot Games, Path of Exile creator Grinding Gear Games, and Clash of Clans developer Supercell. Tencent has minority investment stakes in numerous other companies, including Activision Blizzard, Ubisoft, Epic Games, Paradox, Funcom, Bluehole, Frontier Developments, and Glu Mobile.

Sumo Group has been growing a lot lately. Following Perwyn's initial investment in the company back in 2016, the company is growing in numerous ways. It now operates 10 studios in three countries and posted £38 million ($49 million USD) in revenue for the latest year.

Sumo Digital, which employs around 600 people and is among the largest development groups in the world, has worked on numerous high-profile projects over the years. In the past two years alone, it has contributed to the development of Hitman 2, Forza Horizon 4, Team Sonic Racing, and Crackdown 3. It is currently working on Dead Island 2, among other projects.

Sumo owns seven studios in the UK in Sheffield, Nottingham, Newcastle, Leamington Spa, Warrington, Brighton, and Leeds. The company also has an office in Pune, India.



from GameSpot - All Content https://ift.tt/34yUf2g

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

WWE Wrestlemania 35: How To Stream On PC, PS4, And Xbox One

Wrestlemania , WWE's biggest PPV of the year, is right around the corner, airing on Sunday, April 7. If you're familiar with WWE, then you know there are multiple ways you can watch this event from your phone to TV to PC. Here's a breakdown of the easiest ways for you to watch Wrestlemania. The cheapest and easiest way to watch the PPV is through the WWE Network . While the network normally costs $10 a month and offers replays of past PPVs, weekly television events, and original content, new subscribers can sign up for one month free. So you can watch Wrestlemania without paying a dime, from the comfort of your own home. Just make sure to decide after the event whether or not you want to keep your subscription to the service. Additionally, Wrestlemania is available through your cable or satellite provider. However, if you plan on doing that, be prepared to pay between $60-70 for the event. Why would you pay that much for the event? Well, internet service isn't fast e...
Post a Comment
Read more

9 Of The Best Steam Winter Sale Games For $20 Or Less

The Steam Winter Sale rages on, with big discounts on hundreds of games. It runs through January 3, so time is running out for anyone who wants to save a bundle of cash on some of the best PC games of recent years. If you don't want to put a dent in your cashflow in this post-holiday period, that's wholly understandable. To help you find some of the best games available for an affordable price, we've scanned through the Steam Winter Sale and selected some of the top titles. Read on for the goods. If you don't find something you want, plenty of other sales are live this week as well. GOG is having a winter sale of its own right now, and it's giving away certain games for little or nothing. Also, if you'd like to spend even less, check out our picks for the best games in the Steam sale under $10 . Now on with the show. 1. Borderlands: The Handsome Collection Borderlands 3 is likely to come out eventually, and you'll want to know what's happening on...
Post a Comment
Read more