Already a shareholder since 2019, Tencent hopes to completely buy the group for more than a billion dollars.
Tencent, like other big fish in the video game industry, hopes to grow its empire by collecting collections from competing development studios. The latest acquisition for the Chinese group, which primarily specializes in mobile games, is Sumo Digital, the studio behind the games. Sackboy, Sonic Team Racing or Crackdown 3.
If the negotiations have been going for some time, Tencent hopes to close this deal with a buyout of up to $ 1.2 billion. Sumo Digital is particularly known for its works for hire, which the studio will continue to do in the future in addition to its own franchises.
A ready-made strategy
The CEO of Sumo said: “ We couldn’t miss the opportunity to work with Tencent. It would bring another dimension to Sumo and give us the opportunity to make our mark on this extraordinary industry, in a way that until now was beyond our reach. ».
« Tencent has a proven track record of supporting management teams and their existing strategies. Along with developing our own franchises, Tencent has demonstrated its commitment to supporting the work of our customers and has stated its intention to ensure that we have the necessary investments to continue to focus on working with our strategic partners. ».
This is a real boon for Tencent, which is taking console games one step further, even though the company is known for its successful mobile games. We can cite in particular the popular PUBG Mobile and Honor of Kings. In 2020, Tencent has invested in not less than 31 companies in the gaming world, including Leyou Technologies for $ 1.5 billion. The company is therefore continuing its momentum with this strategic takeover.