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Chinese language tech large Tencent Holdings has agreed to purchase Britis online game firm Sumo Group for $1.27 billion.

Sumo’s shareholders will get $7.08 in money per share, Tencent stated. The provide is a 43% premium to the Sumo’s final closing value of $4.94. The share has risen a number of instances since Sumo went public on the London Inventory Trade AIM market in 2017. It’s another signal of an acceleration of offers within the recreation business. Within the first half of 2021, there have been $60 billion price of investments, acquisitions, and public choices within the recreation business, in response to Drake Star Companions.

Tencent had an 8.75% stake and it’s the second-biggest stakeholder within the firm, which has 14 studios in 5 international locations with greater than 1,200 staff. The acquisition may have echoes within the U.S., as Sumo Digital owns Oregon-based Pipeworks, maker of Rival Peak. Pipeworks simply opened a studio known as Timbre Video games in Vancouver.

“The Board of Sumo firmly believes the enterprise will profit from Tencent’s broad videogaming eco-system, confirmed business experience and its strategic sources,” stated Ian Livingstone, chairman of Sumo, in an announcement.

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By Clark