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Tencent is set in a deal worth $ 1.27bn to buy Jus Group (£ 919m), the companies have announced.
The offer will see its shareholders received 513 pence per share, which is the last step in the right 43% increase on the closing price (358 d).
Tencent already owns an 8.75% is held in the UK games developer which includes the recent BAFTA winning Sackboy: The Big Adventure for Sony and Microsoft for the Crackdown 3. The right to develop it with the IP, it is best known for his work-for-hire projects is one that will continue into the new ownership.
The cash acquisition will go through Tencent’s wholly owned subsidiary Sixjoy Hong Kong Limited.
If agreed, it will slow the Public purchases over $ 1Bn UK games company to be the developer Codemasters F1 before EA’s acquisition this year.
“The three founders colony of Sumo: business and employment, Paul Porter, Darren mills passionate about or why I have to finish in roles”, Carl Cavers CEO, said in a statement.
“That power, when it is necessary not only to Tencent not miss. It is to bring another dimension to the right, presenting opportunities for us that we are really a sign of their thereto industry that is amazing in a way that had previously been-of-reach.
“Tencent is a strong track record for backing management teams and existing strategies. Similarly, by the force of his IP work, Tencent has demonstrated its commitment to backing our client work has stated his intention to have a necessary investment to continue focusing on our key task is to turn-key and co-development projects strategic partners “
James Mitchell, Tencent’s Chief Strategy Officer, added: “Tencent is the heart was an investor in law since 2019, and they see the proposed combination is the evolution of our society. Tencent is a self-energized investor in the gaming industry and a track record of distributed school students and supporting growth around the world. to take us to the team’s games and in the end in itself produce and spirit, and a new war underpinned success in the business for many years.
“Tencent intends to bring its expertise and resources to accelerate the growth of sumo in the UK and abroad, supporting the right forum for the top-notch creative talent and the UK as a hub to the game of innovation. We believe the proposed transaction benefits all the stakeholders, give value right compelling for shareholders, while enhancing take on the task for the future. ”