Sumo, Sheffield gaming firm, sees £540m contracts

Sheffield-based video gaming firm Sumo Group plc — which recently agreed to a £919 million cash takeover offer from a subsidiary of China’s Tencent — announced that its revenue soared 91% to £50.4 million in the six months ended June 30, 2021.

Statutory profit before tax rose 32.9% to £3.7 million in the six months.

Sumo said its acquisition pipeline remains strong and the group “continues to evaluate new acquisition opportunities in line with its strategic priorities and growth strategy.”

Since the start of 2021, we have increased the group’s capacity through the acquisition of PixelAnt and added an exciting new publishing element to the business, through the launch of Secret Mode in March.

“Timbre Games was launched by Pipeworks in Vancouver in July and, earlier this month, we added Auroch Digital to our growing portfolio of studios via acquisition.

“Auroch Digital supports our publishing ambition and brings further talent acquisition opportunities in the South West to provide further capacity in games development.

“We are also expanding with the opening of our second Sumo Digital studio in India next year.

As ever, our focus remains on delivering further strong growth organically and by acquisition and the pipeline of opportunities remains strong.

“We have an encouraging level of visibility on development fees for both 2021 and 2022 and, with our markets continuing to perform strongly, are very confident about the future of the business, which we expect to be under the ownership of Tencent.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.