Tencent is now going after Sumo Group - a collection of game developer studios based in the United Kingdom. The deal worth 1.3 billion dollars is currently pending approval.
Sumo Group is the latest in a long line of game developer studios to join Tencent.
The $1.3 billion deal went down today, July 19, 2021, days after China's market regulator voted to block Tencent's plans to merge videogame streaming sites, Huya (HUYA.N) and DouYu.
The acquisition of Sumo Digital's parent company, Sumo Group is still pending authorization, but if the transaction goes through as planned, Tencent will be left with multiple game developer studios under the Sumo umbrella.
The Sumo Group of studios currently employs around 1200 people, divided up into studios lending their support to others' IPs and those creating original titles.
Sumo Digital is known for games such as Crackdown 3, LittleBigPlanet 3, Sackboy: A Big Adventure and for aiding the development of Forza Horizon, Forza Motorsport and Hitman 2.
The most recent acquisition places Tencent near the top of the videogame industry. The company already has stakes in studios responsible for Fortnite and League of Legends (Epic Games and Riot Games), making it second only to the Japanese giant Sony.
League of Legends - showcase of several champion splash arts
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