Tencent acquires British game company Sumo for $1.3B in cash

  • Tencent (OTCPK:TCEHY) will acquire British game developer Sumo in a $1.27B all-cash deal.
  • The deal offers 513 pence a share for Sumo, a 43% premium to Friday's closing price in London.
  • Sumo primarily develops games for other developers including the Sony-published Sackboy: A Big Adventure and racing titles based on Sega's Sonic the Hedgehog.
  • Tencent already held a nearly 9% stake in Sumo.

    For this year Tencent Music Entertainment Group 's (located in Shenzhen) revenue will be around 34.38 billion USD. This is according to the average of the analysts' estimates. This is quite more than 2021's revenue of 29.15 billion USD.

    Historical revenues and results Tencent Music Entertainment Group plus estimates 2021

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    The analysts expect for 2021 a net profit of 4.36 billion USD. According to most of the analysts the company will have a profit per share for this book year of 2.62 USD. Based on this the price/earnings-ratio is 4.03.

    Analysts don't expect the company to pay a dividend. The average dividend yield of the restaurants & bars companies is a low 1.43 percent.

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    Historical stock prices Tencent Music Entertainment Group

    financial analysis tencentmusicentertainmentgroup

    On Tuesday, the stock closed at 10.55 USD.

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