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Tencent to buy ‘LittleBigPlanet’ developer, Sumo Digital for $1.27 billion

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Tencent has announced plans to fully acquire British gaming studio Sumo Digital in a $1.27 billion deal, increasing its previous ownership stake of 8.75%.Previously the second-biggest shareholder of Sumo Digital, the Chinese tech giant has placed an offer representing a 43% premium on Sumo’s current valuation.

If the deal completes, Sumo is expected to continue work on its existing projects including its numerous work for hire titles.The British company has 14 studios spread across five countries and is best known for games such as Sackboy: A Big Adventure, Crackdown 3, Sonic & Sega All-Stars Racing, amongst many others.Tencent has previously invested in more than 800 firms and is one of the biggest companies in the world with a market.

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