Tecent buys LittleBigplanet 3's Sumo studio for $1,27 billion

It was announced today that the British game developer behind the titles LittleBigPlanet 3 and Crackdown 3, Sumo Group, has been acquired by China's Tencent. The Chinese studio is offering 513 pence a share for Sumo, a company that Tencent already owns 8.75%, valuing it at $1,26 billion.

This major purchase by Tencent brings the studio another major developer for its properties. Today, Tecent is the world's largest gaming company, controlling developers such as Riot Games (League of Legends), Epic Games, Activision Blizzard, Ubisoft, Bluehole, Paradoz Interactive, Supercell, Grinding Gear Games, Yager and Discord. In February this year Bohemia Interactive (DayZ was also purchased).

What is Tencent taking to buy Sumo?

With the purchase of Sumo Group, Tencent is acquiring some AAA and some indie franchises. The British studio was responsible for LittleBigPlanet 3, Sackboy, Hitman 2. Additionally, he owns The Chinese Room indies (Everybody's Gone to the Rapture) and Red Kite Games.

Sumo president says:

"The company will benefit from Tencent's extensive video game ecosystem, proven industry experience and strategic resources, which will help protect and advance Sumo's long-term aspirations and success."

Call of Duty: Mobile earned $10 billion in revenue in 2020 alone

About 3 months ago, it was announced that Call of Duty: Mobile managed to raise US$10 billion in revenue in the year 2020. The game developed for mobile phones was made by TiMi Studios, controlled by Tencent. Check out more details here.

What do you think of Tencent's new purchase? Comment below and share on social media with your friends!