Tencent has bought up another video game company to add to its massive portfolio, with its recent acquisition of British studio Sumo Group. The brand is the parent company of Sumo Digitial, responsible for creating popular titles such as Sonic & SEGA All-Stars Racing Transformed, LittleBigPlanet 3, Snake Pass, and Hood: Outlaws & Legends. Tencent paid a whopping $1.27 billion dollars to buy up Sumo Group, while previously having an 8.75% stake in the company's stakes.

Tencent intends to bring its expertise and resources to accelerate the growth of Sumo both in the UK and abroad, supporting Sumo in the market for top-notch creative talent, and the UK as a hub for game innovation. We believe the proposed transaction benefits all stakeholders, delivers compelling value for Sumo shareholders, while enhancing the Sumo business for the future.

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[eriol33]

Tencent is China's Disney.

 

[DoctorBagPhD]

F.

 

[BitMasterPlus]

Yeah I don't like this one bit.

 

[linkchidori]

you think after all the atrocity the CCP has done one company would have the f-ing balls to refuse but human greed rules the mind of big tech

I would say that, at least in capitalism, theres not really any ethic. Sure, supposedly the market would put preassure on you if you took bad decisions, but if theres nothing to stop you or to loose, why not?, its actually a decent deal for Tencent. Also, the US is kinda in the same line for many countries, the difference is that they have been the only super power for a long time.

 

[MeAndHax]

You can expect a lot of Chinese New Year sales

 

[pedro702]

hope they dont make them just work on mobile games tough...

 

[Julie_Pilgrim]

OH NO WHAT WILL WE DO WITHOUT MEDIOCRE GAMES

 

[xatzimi]

Tencent strikes again

 

[ov3rkill]

Geez. Tencent is getting bigger gobbling up most of the gaming companies.

 

[abda]

Sackboy Mobile?

 

[MikaDubbz]

Billion with a b?

At least codemasters the other month had some stuff in their past. https://gbatemp.net/threads/ea-buys-codemasters-for-1-2-billion-dollar.578897/

These guys... I don't get it.

I think it really just comes down to competence. The games this team has made aren't the biggest titles ever, but they are fully realized and polished titles all the same, and they weren't failures by any means either. So Tencent being the giant that they are and only getting bigger, probably just saw a group of programmers that can competently put out a product, and intends to tell them what their next project(s) will be.

 

[CloudStrife1901]

Didn't sumo digital take over to develop Dead Island 2?

 

[Xzi]

If Tencent buys up like half the video game industry, I'm gonna start wearing a pirate hat every day, in public and in private.

 

[Coto]

Fuck CCP

Fuck Tencent

 

[UltraDolphinRevolution]

It is actually CPC, not CCP.

 

[Gamer90Kirby]

Good for Tencent. I don't buy all the blind hate.

 

[Ampersound]

Anything moving towards a monopoly simply sucks, even without them being controlled by cpc, which comes with lots of issues.
I want game studios to be more independant again.
They can still get fundings from other sources, like rare developing games for Nintendo back in the day, but just flat out being owned by big corp won't have a good ending.

 

[Pipistrele]

This but unironically.

Fuck China.

Chinese people are cool

 

[livid_hen]

Chinese people are cool

I agree that the people are cool, but their government is a little... sketch...

 

[Plstic]

I got all their games through humble bundle, not big deal tho, beside u won't lose anything if their future games are not up to expectation, you don't have to BUY IT .

Where's ur hypothetical loss???????????????????????????????????

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what a great comment made by an absolute intellectual, ignoring the fact ur own country Zimbabwe is still an 3rd world country which is ruined and looted by foreign colonizer AKA whites, WHAT has China done wrong to ur nation? just curious.......

China owns most of the mineral rights in africa. Paying off corrupt officials and warlords.