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Tencent snaps up 10% stake in Sumo Digital

Tencent snaps up 10% stake in Sumo Digital

Sheffield's Sumo Digital is the latest games firm that Chinese tech and entertainment giant Sumo Digital has invested in.

The firm has bought a 9.96 per cent stake in the British developer, or 15m shares, via existing investor Perwyn, whose slice of Sumo has dipped to 17.83 per cent.

"We are glad to invest in Sumo Group, a leading independent co-development studio," said head of Tencent Games Steven Ma.

"We look forward to supporting Sumo's growth and exploring collaborations with the Company to bring more interactive entertainment experiences to global audiences."

Sumo Group CEO Carl Cavers (pictured) added: "We are delighted that Tencent has chosen to acquire a shareholding in the company, and we look forward to working with Tencent to explore co-development opportunities.

"When Perwyn invested in Sumo Digital in September 2016 we were a private company with annual revenue of around £24m and operated from three studios in two countries. We are now a public company and, following the recent announcement of our new studio in Warrington in the north west of England, now have ten studios in three countries and reported revenue of more than £38 million for the year ended 31 December 2018.

"I would like to thank Perwyn, once again, for their original investment and for their ongoing support of the business."

This is the latest in a long list of investments made by Tencent. The firm owns the likes of League of legends maker Riot Games as well as mobile firm Supercell. That's in addition to stakes in the likes of Epic Games, Ubisoft, Activision Blizzard and Activision Blizzard.


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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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