$1.27 billion deal was approved by the UK High Court, and Sackboy developer will now be under the ownership of Tencent's Sixjoy Hong Kong Limited.
Tencent's acquisition of the UK developer and publisher Sumo Group continues smoothly as it was approved by the High Court of Justice in England and Wales. The acquisition was sanctioned on January 13 and has to be delivered to the Registrar of Companies later today.
Sumo's share dealing on the AIM, sub-market of the London Stock Exchange, was suspended at 7.30 a.m. this morning and the admission to trading will be canceled from 7 a.m. tomorrow.
Tencent subsidiary Sixjoy Hong Kong Limited, also known as Tencent Bidco, will now own Sackboy developer Sumo Digital including its studios like The Chinese Room, Red Kite Games, and Lab 42. Along with the studios, Tencent Bidco acquired former Sumo's publisher Secret Mode, developers Auroch Digital, Pipeworks Studios, and Timbre Games, as well as art and design specialist Atomhawk.
Sackboy: A Big Adventure
As Sumo Group also announced, there have been changes in the board of directors, and starting today Sir Ian Livingstone, Michael Sherwin, and Andrea Dunstan will no longer be non-executive directors for the group.
Previously, it was reported that Tencent was set to buy Sumo Group in a deal worth $1.27 billion (£919 million) as of July 2021. However, in November Sumo announced that the acquisition must have been approved by the Committee on Foreign Investment in the United States (CFIUS) as the committee had to investigate potential threats to national security due to Pipeworks' presence in Oregon. A month later, it was confirmed by Sumo Groups that CFIUS had finished its investigation and the deal had been approved.