<p>Chinese tech giant Tencent Holdings will buy video game company Sumo Group in a deal that values the British firm at 919 million pounds ($1.27 billion), the companies said on Monday.</p>.<p>Sumo's shareholders will get 513 pence in cash per share, Tencent said. The offer is at 43% premium to the Sumo's last closing price of 358 pence. The share has risen multifold since its listing on LSE's junior market AIM in 2017 at 100 pence.</p>.<p>Tencent has an 8.75% stake and is the second-biggest stakeholder in the company, which has 14 studios in five countries with more than 1,200 employees.</p>.<p>"The Board of Sumo firmly believes the business will benefit from Tencent's broad videogaming eco-system, proven industry expertise and its strategic resources," Sumo's non-executive chairman Ian Livingstone said.</p>
<p>Chinese tech giant Tencent Holdings will buy video game company Sumo Group in a deal that values the British firm at 919 million pounds ($1.27 billion), the companies said on Monday.</p>.<p>Sumo's shareholders will get 513 pence in cash per share, Tencent said. The offer is at 43% premium to the Sumo's last closing price of 358 pence. The share has risen multifold since its listing on LSE's junior market AIM in 2017 at 100 pence.</p>.<p>Tencent has an 8.75% stake and is the second-biggest stakeholder in the company, which has 14 studios in five countries with more than 1,200 employees.</p>.<p>"The Board of Sumo firmly believes the business will benefit from Tencent's broad videogaming eco-system, proven industry expertise and its strategic resources," Sumo's non-executive chairman Ian Livingstone said.</p>