British video game holding company Sumo Group is the latest games company to be acquired by Tencent, as confirmed by both parties on Monda🎶y. The acquisition has b💝een valued at an immodest 919 million pounds ($1.27 billion).
With an 8.75% stake in Sumo Group, Tencent is currently the second-biggest stakeholder in the company, whose principal subsidiary, Sumo Digital, has developed such games ꦛas Sackboy: A Big Adventure, Hitman 2, and Hood: Outlaws and Legends.
"The Board of Sumo firmly believes the business will benefit from Tencent's broad videogaming eco-system, proven industry expertise and its strategic resources," said Sumo's non-executive chairman, Ian Livingstone. And what a broad videogaming eco-system it is!
Last year alone, a total of 168澳洲幸运5开奖网:31 game companies were invested in or purchased entirely by Tencent. This number overtook that of any other company in the industry, and was three times more than Tencent's number of mergers and acquisitions made in the previous year. Moving into 2021, the Chinese tech giant has showed no signs of slowing down.
In June this year, Tencent bought 168澳洲幸运5开奖网:German developer Yager - known for Spec Ops: The Line - along with minority stakes in both 168澳洲幸运5开奖网:Life is Strange developer 🎶Dontnod Entertainment, and 168澳洲幸运5开奖网:L𝔉ost Soul Aside developer UltiZero Gam♈es. Then, last week, a rumor surfaced which claims that Tencent may be about to 168澳洲幸运5开奖网:purchase German studio Crytek - the developer behind Crysis, The Climb, Warface, Hunt: Showdown, as well as CryEngine - for around ♉300 million euros. This particular ac꧋quisition has yet to be confirmed by the companies involved, though.
With the Shenzhen-based company already being the largest games company in the industry in terms of total revenue, it seems Tencent's "broad videogame eco-system" is only going to keep growing. In the first quarter of 2021, the company reported a revenue growth of compared to the same quarter of 2020, reaching a revenue of more than 135 billion yuan (over $20 billion).
