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Report: Sumo Digital eying £150m valuation for upcoming IPO

Report: Sumo Digital eying £150m valuation for upcoming IPO

Sheffield-based games maker Sumo Digital is reportedly about to go public, with an initial public offering worth £150m.

That’s according to a story by the Times (paywall), which says that the studio has recruited investment bankers Zeus Capital to help them in the process.

"Sumo is a strong and fast-growing company with a significant market growth opportunity and we frequently review opportunities that will best enable us to achieve our ambitions and potential,” CEO and co-founder Carl Cavers told GamesIndustry.biz.

Sumo was founded in 2003 and has established itself as one of the foremost work-for-hire developers in the world. To date it has worked on triple-A franchises including Disney Infinity, Hitman and Forza Motorsports, as well as Sonic and Sega All-Star Team Racing.

Right now it is working on Crackdown 3 for Microsoft, as well as Deep Silver’s Dead Island 2. Both of these games were announced at E3 2014 and are both a long time coming. 

That’s on top of releasing its own titles; earlier this year it made and self-published Snake Pass.

Until November 2014, the company was owned by entertainment group Foundation 9, with investment firm NorthEdge Capital helping the studio with an MBO. Last September, Perwyn purchased NorthEdge’s stake. In July, Sumo acquired design studio Atomhawk.


PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

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