"Tencent has a strong track record for backing management teams and their existing strategies. It would bring another dimension to Sumo, presenting opportunities for us to truly stamp our mark on this amazing industry, in ways which have previously been out-of-reach. ![]() "The opportunity to work with Tencent is one we just couldn't miss. "The three founders of Sumo, who work in the business, Paul Porter, Darren Mills and I are passionate about what we do and are fully committed to continuing in our roles," CEO Carl Cavers said in a statement. If agreed, Sumo will be the latest public UK games company to be bought for over $1bn, following EA's acquisition of F1 developer Codemasters earlier this year. The cash acquisition will go through Tencent's wholly owned subsidiary Sixjoy Hong Kong Limited. Although Sumo does develop its own IP, it is best known for its work-for-hire projects, which will continue under the new ownership. ![]() Tencent already owns an 8.75% stake in the UK games developer, which work includes the recent BAFTA winning Sackboy: A Big Adventure for Sony and Crackdown 3 for Microsoft. The offer will see its shareholders received 513 pence per share, which is a 43% increase on Sumo's last closing price (358 pence). ![]() Tencent is set to buy Sumo Group in a deal worth $1.27bn (£919m), the companies have announced.
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