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Tencent to buy British video game company Sumo in $1.3 billion deal

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Reuters

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/reuters/07/19/20210713-tencent.jpg"/><figcaption>A staff member is seen at a booth of Tencent at an exhibition during China Internet Conference in Beijing, China July 13, 2021. <em>Tingshu Wang, Reuters/File</em></figcaption></figure></div><p>Chinese tech giant Tencent Holdings will buy video game company Sumo Group in a deal that values the British firm at 919 million pounds ($1.27 billion), the companies said on Monday.</p><p>Sumo&#x27;s shareholders will get 513 pence in cash per share, Tencent said. The offer is at 43 percent premium to the Sumo&#x27;s last closing price of 358 pence. The share has risen multifold since its listing on LSE&#x27;s junior market AIM in 2017 at 100 pence.</p><p>Tencent has an 8.75 percent stake and is the second-biggest stakeholder in the company, which has 14 studios in five countries with more than 1,200 employees.</p><p>&quot;The Board of Sumo firmly believes the business will benefit from Tencent&#x27;s broad videogaming eco-system, proven industry expertise and its strategic resources,&quot; Sumo&#x27;s non-executive chairman Ian Livingstone said.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/25/20/tencent-buys-iflix-in-streaming-push-into-southeast-asia">Tencent buys Iflix in streaming push into Southeast Asia</a></li>	<li><a href="https://news.abs-cbn.com/business/07/08/21/chinas-tencent-turns-to-facial-recognition-to-snag-late-night-child-gamers">China&#x27;s Tencent turns to facial recognition to snag late-night child gamers</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1455273" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Chinese tech giant Tencent Holdings will buy video game company Sumo Group in a deal that values the British firm at 919 million pounds ($1.27 billion), the companies said on Monday.</p>

Chinese tech giant Tencent Holdings will buy video game company Sumo Group in a deal that values the British firm at 919 million pounds ($1.27 billion), the companies said on Monday.