Tencent to buy British video game company Sumo in $1.3 billion deal


FILE PHOTO A Tencent logo is seen in Beijing China September 4 2020. REUTERSTingshu WangFile Photo

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.

Subscribe now and stand a chance to win prizes worth over RM40,000! T&C applies.

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.


Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a subscriber? Log In