Sumo Group Limited is a British video game
holding company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
based in
Sheffield
Sheffield is a city in South Yorkshire, England, whose name derives from the River Sheaf which runs through it. The city serves as the administrative centre of the City of Sheffield. It is historically part of the West Riding of Yorkshire a ...
. It was formed in December 2017 as the
parent company for
Sumo Digital
is a form of competitive full-contact wrestling where a ''rikishi'' (wrestler) attempts to force his opponent out of a circular ring (''dohyō'') or into touching the ground with any body part other than the soles of his feet (usually by thr ...
and Atomhawk, followed by its
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
later that month. Sumo Group's other subsidiaries are
Pipeworks Studios
Pipeworks Studios is an American video game developer based in Eugene, Oregon. The company was founded in November 1999 by Dan White and Dan Duncalf and works to provide full development, co-development, and live operations to video game publ ...
(acquired in September 2020) and Secret Mode, a publisher established in March 2021. After purchasing a minority stake in Sumo Group in November 2019,
Tencent
Tencent Holdings Ltd. () is a Chinese multinational technology and entertainment conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the world based on revenue. It is also the wo ...
wholly acquired the company in January 2022.
History
Carl Cavers, Paul Porter, Darren Mills and James North-Hearn, four former members of the defunct
Infogrames Studios, established the developer
Sumo Digital
is a form of competitive full-contact wrestling where a ''rikishi'' (wrestler) attempts to force his opponent out of a circular ring (''dohyō'') or into touching the ground with any body part other than the soles of his feet (usually by thr ...
in 2003.
It was bought by
Foundation 9 Entertainment
Foundation 9 Entertainment, Inc. was an American video game company based in Irvine, California. The company was formed in March 2005 through the merger of video game developers Backbone Entertainment and The Collective.
History
Foundation ...
in March 2008 before Cavers, Porter, Mills and Chris Stockwell completed a
management buyout of the studio in November 2014.
In December 2017, Sumo Group was formed in December 2017 as the
parent company for Sumo Digital and its Atomhawk
subsidiary. Sumo Group had its
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
(LSE) later that month.
In November 2019, the Chinese conglomerate
Tencent
Tencent Holdings Ltd. () is a Chinese multinational technology and entertainment conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the world based on revenue. It is also the wo ...
acquired 15 million shares of Sumo Group, representing a 10% stake.
Sumo Group acquired
Pipeworks Studios
Pipeworks Studios is an American video game developer based in Eugene, Oregon. The company was founded in November 1999 by Dan White and Dan Duncalf and works to provide full development, co-development, and live operations to video game publ ...
in October 2020 and opened a publishing label, Secret Mode, in March 2021.
In July that year, Tencent and Sumo Group agreed that Tencent would, through its
subsidiary Sixjoy Hong Kong Limited, wholly acquire the company for per share (143.3% of the shares' previous
closing price
An open-high-low-close chart (also OHLC) is a type of chart typically used to illustrate movements in the price of a financial instrument over time. Each vertical line on the chart shows the price range (the highest and lowest prices) over one un ...
of ), totalling . At the time, Tencent was Sumo Group's second-largest shareholder at 8.75%.
In September 2021, Sumo Group acquired
Auroch Digital, a
Bristol
Bristol () is a city, ceremonial county and unitary authority in England. Situated on the River Avon, it is bordered by the ceremonial counties of Gloucestershire to the north and Somerset to the south. Bristol is the most populous city in ...
-based developer, .
Tencent's acquisition was approved by the
Committee on Foreign Investment in the United States
The Committee on Foreign Investment in the United States (CFIUS, commonly pronounced "Cifius" ) is an inter-agency committee of the United States government that reviews the national security implications of foreign investments in U.S. compani ...
in December 2021, followed by the
High Court of Justice
The High Court of Justice in London, known properly as His Majesty's High Court of Justice in England, together with the Court of Appeal and the Crown Court, are the Senior Courts of England and Wales. Its name is abbreviated as EWHC (Englan ...
on 13 January 2022. Sumo Group was consequently delisted from the LSE on 17 January and became a subsidiary of Tencent through the latter's Sixjoy Hong Kong Limited holding subsidiary.
On July 21st 2022, Sumo Group sold Pipeworks Studios to ''
RuneScape
''RuneScape'' is a fantasy massively multiplayer online role-playing game (MMORPG) developed and published by Jagex, released in January 2001. ''RuneScape'' was originally a browser game built with the Java programming language; it was lar ...
'' developer
Jagex
Jagex Limited is a British video game developer and publisher based at the Cambridge Science Park in Cambridge, England. It is best known for ''RuneScape'' and ''Old School RuneScape'', both free-to-play massively multiplayer online role-play ...
for an undisclosed sum.
Subsidiaries
* Atomhawk
** Atomhawk Canada
** Atomhawk United Kingdom
*
Auroch Digital
* Secret Mode
*
Sumo Digital
is a form of competitive full-contact wrestling where a ''rikishi'' (wrestler) attempts to force his opponent out of a circular ring (''dohyō'') or into touching the ground with any body part other than the soles of his feet (usually by thr ...
** Lab42
** PixelAnt Games
** Red Kite Games
** Sumo Leamington
** Sumo Newcastle
** Sumo Nottingham
** Sumo Pune
** Sumo Sheffield
** Sumo Warrington
**
The Chinese Room
The Chinese Room (formerly Thechineseroom) is a British video game developer based in Brighton that is best known for exploration games, such as ''Dear Esther''. The company originated as a mod team for ''Half-Life 2'', based at the Unive ...
References
External links
*
{{Authority control
2017 establishments in England
2017 initial public offerings
2022 mergers and acquisitions
British companies established in 2017
British subsidiaries of foreign companies
Companies based in Sheffield
Companies formerly listed on the London Stock Exchange
Tencent divisions and subsidiaries
Video game companies established in 2017
Video game companies of the United Kingdom
Holding companies of the United Kingdom
Holding companies established in 2017