Tencent to acquire a 10% stake in Sumo Group from Perwyn.

Tencent agreed to acquire a 10% stake in Sumo Group, a UK-based video game developer, from Perwyn, an evergreen, family-funded private equity business. "We are delighted that Tencent have chosen to acquire a shareholding in the Company, and we look forward to working with Tencent to explore co-development opportunities. When Perwyn invested in Sumo Digital in September 2016 we were a private company with annual revenue of around £24m and operated from three studios in two countries. We are now a public company and, following the recent announcement of our new studio in Warrington in the north west of England, now have ten studios in three countries and reported revenue of more than £38m for the year ended 31 December 2018. I would like to thank Perwyn, once again, for their original investment and for their ongoing support of the business," Carl Cavers, Sumo Group Chief Executive Officer.