Tencent is set to buy Sumo Group in a deal worth $1.27bn (£919m), the companies have announced.
Tencent is really buying up everything. I'm surprised everyone is selling to them like this.
They want/need capital I guess.
No way they are worth that much. They are a support studio. I guess tencent decided to throw them an insane price that Sumo would be crazy to turn down. Its like the godfather. "Im going to make you an offer you cant refuse"
Always the case. Who owns the rights to Crackdown and Sackboy IPs though?
I've heard some time ago, that they created a special unit that has a mission to search for acquirable devs all around the globe.
Going off their business practices they seem like a cancer in this industry
chinese currency, no limit in printing, but they are selling in USD
Maybe because they're a publisher of games with a history of success loool..?
Even Microsoft can’t compete with that kind of money.
Uhm yes they can.. What do you mean?
Both companies could. lol
Money talks, Besides, those developers don't need to worry about income anymore.
I doubt anyone that matters to the actual production of the games is getting a raise. The only thing that has changed is that now they can't buy any Winnie the Poo products for their kids.
Well they’re allowed. America and China are leading the world in toxic capitalism.
As publicly traded companies it's either they sell and potentially get more, or tencent initiates a hostile takeover and buys at least 51% of the shares. These companies might not even be amicable to the buy out but opt to take it because hostile takeovers are terrible.
Crap. [email protected](K Tencent
Yep. A company that built itself by ripping off IP of small, innovative developers and out-marketing them. Tencent is everything wrong not just with gaming but corporate ethics in general, and the assymetric regulatory playing field we for some reason permit from the Chinese government. Egregiously corrupt companies like Tencent should be banned from the US market.
The US market would take Tencent to dinner and have it naked on the bed by midnight if it could. America and China are as bad as each other
They can take Sumo those devs really aren't that great. Sack boys big adventure scored good however but Crackdown 3 wasn't great. They're 50/50 Sony will find a suitable replacement for Sack boy. MS desperately needs a suitable replacement for crackdown, if it's not already too late in terms of fanfare at this point. Sumo to me isn't that big of a deal there are better devs out there.
Crackdown 3 was cancelled and remade a few times. Hardly their fault.
This is the same Sumo who made Outrun 2, 2006 Coast to Coast, Sonic Racing Transformed as well as Forza Horizon 2 on the 360. I think they are better than you give them credit for.
You might want to walk this statement back. Why else do you think this game goes for over $200 now? https://www.ebay.com/p/5144...
I'm surprised Sumo are valued so high
yeah, thats what I thought. $1.3 billion is very high, Insomniac sounds like a bargain deal for Sony!
And they likely bought Housmarque and Bluepoint for even less than Insomniac.
at the two above me, it's easy to sell for less when you know you're in good hands business and culture wise. I mean sure you could scratch out some extra money elsewhere but are all the people you know going to be taken care of when you get bought out? Sony takes care of them. Basically you can tell who's a scheming money scumbag by what ceo's/execs choose to be bought by. In the end money talks but there's extras to consider sometimes.
I am as well. They do not own any IPs from my understanding...
Me too! After looking them up, it seems like they were the parent of other game studios: Lab42, Red Kite, Sumo India, The Chinese Room and PixelAnt Games and also have some cryptocurrency technology. They may also still hold the IP for back when they were Gremlin Interactive.. back in the Amiga days they were really a dev of some repute.
Gremlin. Now there's a name that takes me back. Ocean as well.
They're not, it's likely them just throwing money around to make sure they have no opposition. Sumo is a valuable developer as they've assisted in alot of great games. They did LBP3, Sackboy, Sonic Transformed, I believe Assisted in both ModNation Racers and LBPK, Team Sonic racing, just to name the few off the top of my head that I own.
I honestly thought ms or Sony would have nabbed them, seeing as they have worked for both on their respective ips, colour me surprised.
It's a lot of money for a group with no ips, what would they have worked on to keep so many studios and staff employed. For now at least they continue working on ips for the likes of Sony and Microsoft.
Sony and ms have more than enough ips to keep em busy, the price would have been an issue though, that I agree with, just surprised is all🤷♂️
Tencent doesn't exactly pride themselves on original IP anyway. They just steal someone else's. They only need developer drones.
They have enough to make them busy but there is no point in buying the studio that high, they could just make the developers some offers and thats it... heck every single developer could just quit the studio and with what is tensen left? no point in buying a studio with no IP you dont own the developers
I already agreed that the price was high, still don't take away that they could have been used, and be useful to either ms or sony
China is buying everything now? Damn thwy really won the ww3 with bioweapon
Dang from the music industry to video game industry, what the heck is Tencent up to
Hilarious that you mention spying when you are been violated every single day from your constituional amendment by your own government and by big private coorporations and you worry about a private corporation of entertainment "spy" on you.....
Cool, so now they’ll make nothing but mobile games. That’s one way to go, I guess.
Mobile gaming is where the $$$ is at.
I get it, but that's a shame they were purchased by a big corporation to be turned into that. Who knows, maybe the Chinese market will get into console/PC gaming without it being an MMO or some mobile-like microtransactioned game. This company Tencent isn't exactly on the top of my list when it comes to publishing.
@CrimsonWings69 I agree. I doubt Tencent is getting into console gaming at least no time soon because mobile is where the real gaming money is at and Tencent owns the Asian market.
At least China is buying things instead of straight up stealing shit like they usually do.
hahaha they bought some developers without IP so i bet you they will put them to make some stuff they steal from others anyways!
I liked crackdown lol. Even then at least they bought some developers instead of forcing kids and Muslims to make them for free. Baby steps.
Sucks that all these studios are selling their souls to Tencent but at least that makes it easier for me to limit the amount of games I'm going to buy.
So it's ok to be a sell out for Sony, and Microsoft but not by Tencent? Hypocrisy at it's finest ladies and gentlemen.
That’s right, giving money to Tencent means supporting the internment of Uyghur Muslims, Social Credit scores and caste systems which permanently impoverish families and permanently enrich others based purely on bloodlines.
Would have like to have seen Sony buy up Sumo. So Sony doesn't own Sackboy?
They do, which is why the high price tag has baffled some. Tencent doesn’t get anything LBP/Crackdown related. Just the bodies.
I wasn't sure how it worked I knew Microsoft published Crackdown and I knew Sony published Sackboy I would hate to see Sackboy get sucked up into corporate bullshit and die off I like the LBP games.
Sony owns LBP, they will need to give future projects of LBP to another studio or partnership with Tencent hire Sumo to make it
RIP Sumo Digital
Microsoft is not done spending it's billions!
So they paid 1.2 Billion for Sumo and 100 million to the shitty Crackdown devs? Damn Sumo is also way overpriced there as well.
Astro's playroom is much...much better, honestly. I'm not happy about this, but at least I can stop pretending I didn't very much dislike A Big Adventure. Mario 3D World is my favorite platformer, and I just could not find a way to like A Big Adventure. It is so repetitive after playing Mario and Astrobot. IMHO. The word padding comes to mind.
Whelp, no Sackboy for me then (no Crackdown was a given already. Lol). Fight the creeping reach of global communism with every ounce of energy and every penny that you have, lads.
Wow, over a billion for Sumo? Makes the Xbox Xbox Bethesda deal feel like a bargain.
Anyone under tencent is dead to me
Welp good luck to Sumo Digital. That's all I got to say. They'll be lucky if they're able to retain creative freedom with Tencent looking over them.
Commies....commies everywhere....sad to see this happen
They buy developers with games that are not doing all to well, Crackdown was a let down Inthe end, something needs doing to it and Tencent can do it,they have done wonders with Conan exiles since arriving on the scene.
my condolences to all those involved