The UK’s video games industry is booming – it’s time we started to value it

Another piece of UK silver is to be sold to China. Video games developer, Sumo, is being bought by Tencent for £920m.

Sumo specialises in collaborating with other firms to create hit titles – among them Sonic the Hedgehog for Sega, LittleBigPlanet for Sony and Hitman with IO Interactive. The stock market-listed firm employs more than 1,200 people from its base in Sheffield, in the UK, Poland, US, Canada and India. Its Hong Kong-quoted purchaser, Tencent, is one of the biggest companies in the world, worth around $700bn, due to its ownership of the Chinese social media and mobile payments app, Weixin/WeChat.

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