A Chinese tech giant, Tencent has purchased UK videogame developer, Sumo for £919m.
Chief executive of Sumo, Carl Cavers revealed information on the deal, adding that the “opportunity to work with Tencent is one we just couldn’t miss”.
The deal is bringing together Sumo’s portfolio of games with Tencent’s more high-profile titles.
The terms of the deal reveal that Sumo shareholders will receive 513per share, which is a 43% premium to Friday’s closing price.
Tencent is one of the largest video games publishers in the world and has a stake in the two popular Battle Royale-style games, Fortnite and PlayerUnknown’s Battlegrounds (PubG).