Tencent Makes $1.3 Billion USD Bid to Acquire 'Forza' and 'Hitman' Studio Sumo Group

The deal awaits shareholder approval.

Gaming
3,717 Hypes 6 Comments

Chinese tech and gaming giant Tencent has now made a $1.3 billion USD bid to acquire Sumo Group. The British company was founded in England back in 2003 and has since expanded to own more than 10 studios, boasting an inventory of games including Forza Motorsport 7Hitman 2Team Sonic RacingCrackdown 3 and Little Big Planet 3.

The pending acquisition forms part of Tencent’s continuous expansion into the gaming industry through acquisitions and purchasing stakes in other developers. The Chinese firm currently owns 100 percent of League of Legends developer Riot Games, 40 percent of Fortnite‘s Epic Games, 23 percent in Dontnod, and five percent each in Activision Blizzard, Ubisoft and Paradox.

As of now, no deal has been finalized yet, with Sumo Group saying that the decision will have to wait for shareholder approval. However, the board “firmly believes the business will benefit from Tencent’s broad video gaming ecosystem, proven industry expertise and its strategic resources.”

In other gaming-related news, Call of Duty: Black Ops Cold War and Warzone are receiving mid-season updates.

Read Full Article

What to Read Next

Access Industries to Acquire Warner Music Group in $3.3 Billion All-Cash Transaction
Music 

Access Industries to Acquire Warner Music Group in $3.3 Billion All-Cash Transaction

As reports earlier this week indicated, self-made multi-billionaire Len Blavatnik’s Access

Sotheby's to Auction off One of the World's Largest Swatch Collections Worth $1.3 Million USD
Watches

Sotheby's to Auction off One of the World's Largest Swatch Collections Worth $1.3 Million USD

Swatch might not be the first name that comes to mind it comes to rare timepieces, which makes

Extra Butter and adidas Announce a Dog-Inspired Equipment CSG 91 "Best Friend" Collaboration
Footwear

Extra Butter and adidas Announce a Dog-Inspired Equipment CSG 91 "Best Friend" Collaboration

The canine-friendly kicks continue the Three Stripes’ 30th anniversary celebrations of adidas EQT.


KFC Japan Releases Limited Edition Garlic Soy Sauce Chicken for Fall
Food & Beverage

KFC Japan Releases Limited Edition Garlic Soy Sauce Chicken for Fall

Some kick for the colder days.

Japanese Researchers Create Record-Breaking 319Tbps Internet Speeds
Tech

Japanese Researchers Create Record-Breaking 319Tbps Internet Speeds

Almost twice as fast as the previous record.

9GAG Celebrates the History of Memes With World's First "Meme Museum"
Entertainment

9GAG Celebrates the History of Memes With World's First "Meme Museum"

Featuring over 100 memes from past and present.

Erykah Badu Announces 2021 Tour Dates
Music

Erykah Badu Announces 2021 Tour Dates

Including solo shows and festival performances.

LVMH Acquires Majority Stake In Off-White™ Brand
Fashion 

LVMH Acquires Majority Stake In Off-White™ Brand

Promising to work with Virgil Abloh to grow existing and new brands beyond the fashion umbrella.

'Space Jam 2' Director Wants Dwayne Johnson to Star in Next Sequel
Entertainment

'Space Jam 2' Director Wants Dwayne Johnson to Star in Next Sequel

Calling The Rock “an interesting choice.”


A New Addition to UNDEFEATED and Nike's "Dunk vs AF-1" Pack Has Surfaced
Footwear

A New Addition to UNDEFEATED and Nike's "Dunk vs AF-1" Pack Has Surfaced

Slithering in a gray, blue and red color-blocking scheme.

'Loki' Episode Six Becomes Most-Watched MCU TV Series Season Finale
Entertainment

'Loki' Episode Six Becomes Most-Watched MCU TV Series Season Finale

Besting ‘WandaVision’ and ‘The Falcon and the Winter Soldier.’

Shake Shack Korea Celebrates 5th-Anniversary With Bulgogi Burger and Makgeolli Shake
Food & Beverage

Shake Shack Korea Celebrates 5th-Anniversary With Bulgogi Burger and Makgeolli Shake

Collaborating with traditional restaurant Hanilgwan and makgeolli brand Jipyeong Jujo.

Lewis Hamilton Faces Criticism for Dangerous Collision at British Grand Prix
Sports

Lewis Hamilton Faces Criticism for Dangerous Collision at British Grand Prix

This weekend marked the champ’s eighth BGP win.

Grimes and will.i.am to Judge Avatar Singing Competition, 'Alter Ego'
Music

Grimes and will.i.am to Judge Avatar Singing Competition, 'Alter Ego'

Merging talent and technology.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.