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Tencent grabs 10 percent stake in UK game company Sumo Group

Tencent grabs 10 percent stake in UK game company Sumo Group

November 15, 2019 | By Chris Kerr




Chinese company Tencent has purchased a 10 percent stake in Sumo Group, the owner of Crackdown 3  and LittleBigPlanet 3 developer Sumo Digital.  

As reported by The Yorkshire Post, Tencent acquired around 15 million shares in Sumo from private equity firm Perwyn Bidco for an undisclosed fee. The deal means Tencent now holds a 9.96 percent stake in Sumo, with Perwyn retaining a 17.38 percent stake in the company. 

Sumo Group currently has seven UK studios operating under its Sumo Digital umbrella, including Dear Esther creator The Chinese Room and work-for-hire developer Red Kite, and also owns visual design company Atomhawk. 

According to Sumo Group chief exec Carl Cavers, the two companies will now "explore co-development opportunities," with Tencent having recently expressed a desire to create console titles for audiences in the U.S. and Europe.



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