
FILE PHOTO: A Tencent logo is seen in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File Photo
(Reuters) - Chinese tech giant Tencent Holdings will buy video game company Sumo Group in a deal that values the British firm at 919 million pounds ($1.27 billion), the companies said on Monday.
Sumo's shareholders will get 513 pence in cash per share, Tencent said. The offer is at 43% premium to the Sumo's last closing price of 358 pence. The share has risen multifold since its listing on LSE's junior market AIM in 2017 at 100 pence.
Already a subscriber? Log in
Subscribe now and stand a chance to win prizes worth over RM40,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.