US probes £900M Tencent move for Sumo Group - Mobile World Live

US probes £900M Tencent move for Sumo Group

29 OCT 2021

The Committee on Foreign Investment in the United States (CFIUS) began probing a planned takeover of UK-based gaming company Sumo Group by Tencent for £919 million, potentially challenging a global expansion plan by the Chinese company.

Sumo Group notified shareholders of the probe, which commenced yesterday (28 October), explaining in a statement the companies were actively engaged with CFIUS as they seek to close the transaction by the year-end.

The game developer explained Tencent had offered concessions.

CFIUS is responsible for reviewing non-domestic investments and their potential implications on national security.

Sumo Group operates studios in the UK, US, Canada, India and Poland.

Tencent fully owns US-based Riot Games, developer of League of Legends and holds stakes in Finland-based mobile game maker Supercell and Fortnite developer Epic Games.

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Yanitsa Boyadzhieva

Yanitsa joins Mobile World Live as a Reporter based in London. She has more than 5 years’ experience at various media outlets in her home country Bulgaria. She started her career as a political reporter, followed by taking editor roles...

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