Tencent To Buy British Game Developer In $1.3 Billion Deal Amid Pandemic-Fueled Boom

Tencent will buy British video game developer Sumo in a $1.27 billion deal as people lodged at home during the pandemic crowd online to try for new high scores. Sumo and Sixjoy Hong Kong, a subsidiary of Tencent, announced the deal earlier this week. Mount Emei Investment, another subsidiary of Chinese billionaire Ma Huateng's Tencent, already owns about 8.75% of Sumo.