A sign of Tencent is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 3, 2017.
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Tencent has agreed to buy video game maker Sumo Group for $1.27B

  • Posted byby Dean Takahashi
  • Updated
  • 1 min

Chinese tech giant Tencent Holdings has agreed to buy British video game company Sumo Group for $1.27 billion.

Sumo’s shareholders will get $7.08 in cash per share, Tencent said. The offer is a 43% premium to the Sumo’s last closing price of $4.94. The share has risen multiple times since Sumo went public on the London Stock Exchange AIM market in 2017. It’s one more sign of an acceleration of deals in the game industry. The first half of 2021 saw $60 billion worth of investments, acquisitions, and public offerings in the game industry, according to Drake Star Partners.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.