The £919m acquisition of listed video game developer Sumo Group by Chinese technology giant Tencent has moved forward with a date set for shareholders to vote on the deal.

The boards of Tencent Holdings and Sumo Group plc reached an agreement last month (July 2021) on the terms of a recommended all-cash offer.

Tencent, through its wholly-owned subsidiary Sixjoy Hong Kong, will acquire the share capital of Sumo which members of the Tencent Group do not already own at a price of 513 pence per share.

The deal values the entire issued and to be issued share capital of Sumo at about £919m on a fully diluted basis.

Documents outlining the offer have now been sent out to Sumo Group shareholders, who will vote on the proposal at court and general meetings on 10 September 2021.

Subject to approval, Sumo Group would then cease trading on the London Stock Exchange.

Sumo Group is based in Sheffield with studios in Newcastle, Nottingham, Leamington Spa, Warrington and Pune, India. It also owns The Chinese Room in Brighton, Red Kite Games in Leeds, Lab42 in Leamington Spa and PixelAnt Games in Wroclaw, Poland.