Tencent Expands U.K. Presence With Approval on $1.25 Billion Acquisition of Sumo Games Group

Sumo is best known for “Sackboy: A Big Adventure,” a title published by Sony, as well as racing games based on Sega’s “Sonic the Hedgehog” franchise. Tencent has owned 8.75% of the company since 2019. It offered £5.13 per Sumo share for the stock which is listed on the AIM section of the London Stock Exchange.

Tencent is already the world’s largest gaming firm, with a portfolio of companies including stakes in Ubisoft, Activision Blizzard, Riot and Epic. Analysts say that Tencent has accelerated its games acquisition spree since the beginning of the COVID-19 pandemic, despite a regulatory crimp at home. PC Gamer reported that Tencent acquired 31 games studios in 2020.

Tencent has a significant but low-key presence in the U.K., though it is considerably narrower than the group’s, which stretch from games, video and social media to business solutions and payments. In the U.K., its two main sectors are games industry investment and research and development, often conducted in partnership with local companies, institutions and government.

Old news, i wish tencent acquire more european game studio

I'm here to show my appreciation to TarellaCampbel who took me out from zero to hero. I'm so glad to be among your winning team ma'am and I will always show my gratitude and work with you always.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

2 Gold-Backed Crypto Asset Market Caps Near $1 Billion, XAUT Jumps 19,000% in 23 Months – Altcoins Bitcoin NewsBetween the tokens tether gold and pax gold, the market valuations of these two GoldBackedCryptos are nearing a billion dollars in value. XAUT PAXG DGX PMGT Congratulations to everyone who benefited from our company. Believe it or live it! Registration fee:AED0:00 Daily earning AED10,500 Weekly earning AED27,500 Monthly earning AED75,400 Instant cash out Ask me how This is cool. I’ve seen that the number of tether holders is up to 10M. I'd still go with usd pegged tether
Source: BTCTN - 🏆 531. / 51 Read more »