Today Chinese tech giant Tencent has revealed it’s acquiring Sumo Group for 1.3 billion dollars. It’s the latest in a list of acquisitions by Tencent in the gaming space. Recently the Chinese company acquired gaming company Leyou for 1.5 billion dollars. The acquisition of Sumo Group, the parent company of Sumo Digital, has yet to be approved by authorities.
Sumo Digital is a large studio known for a lot of games. They’ve made games such as LittleBigPlanet 3, Sackboy: A Big Adventure, Crackdown 3 and has given support for games such as Hitman 2, Forza Horizon and Forza Motorsport. Sumo employs around 1200 people and has multiple studios, ranging from support studios to studios building original IP.
With this acquisition Tencent positions themselves even more as one of the largest video game companies on earth. Last year, approximately a third of Tencent’s revenue, around 20 billion dollars, came from gaming. The Chinese tech giant owns 40 percent of Epic Games and owns Riot Games, known for the League of Legends game.
