In November 2019, the Chinese conglomerateTencent acquired 15 million shares of Sumo Group, representing a 10% stake.[8] Sumo Group acquiredPipeworks Studios in October 2020 and opened a publishing label, Secret Mode, in March 2021.[9][10] In July that year, Tencent and Sumo Group agreed that Tencent would, through itssubsidiary Sixjoy Hong Kong Limited, wholly acquire the company for£5.13 per share (143.3% of the shares' previousclosing price of£3.58), totalling£919 million. At the time, Tencent was Sumo Group's second-largest shareholder at 8.75%.[11][12]
In September 2021, Sumo Group acquiredAuroch Digital, aBristol-based developer,£6 million.[13] Tencent's acquisition was approved by theCommittee on Foreign Investment in the United States in December 2021, followed by theHigh Court of Justice on 13 January 2022. Sumo Group was consequently delisted from the LSE on 17 January and became a subsidiary of Tencent through the latter's Sixjoy Hong Kong Limited holding subsidiary.[14] On July 21, 2022, Sumo Group sold Pipeworks Studios toRuneScape developerJagex for an undisclosed sum.[15] In September 2023, it was announced Sumo Group had acquired theLeamington Spa-based game development studio, Midoki.[16]
On June 11, 2024, the company announced it would be laying off up to 15% of its workforce and shutting down Timbre Games.[17][18]
On March 3, 2025, Secret Mode was sold to Emona Capital to operate as a fully independent games publisher.[19]
