Sumo Group PLC Strategic Acquisition of PixelAnt Games (4342N)
February 01 2021 - 2:00AM
UK Regulatory
TIDMSUMO
RNS Number : 4342N
Sumo Group PLC
01 February 2021
1 February 2021
Sumo Group plc
("Sumo Group" or the "Group")
STRATEGIC ACQUISITION OF PIXELANT GAMES
Presence in the thriving talent pool of Poland
Sumo Group, the award-winning provider of creative and
development services to the video games and entertainment
industries, announces the strategic acquisition of PixelAnt Games
sp. z o. o. ("PixelAnt"), based in Wroclaw, creating an immediate
presence for the Group and an established base for growth in
Poland's booming video games development industry.
The video games industry is growing rapidly in Poland. PixelAnt,
which was founded in July 2020, is well known to the Sumo Digital
management with its team of 13 developers currently working
entirely on Sumo Digital projects.
Following the acquisition, PixelAnt will sit alongside Sumo
Digital's other nine studios and continue to operate under the
strong leadership of current studio directors Pawel Rohleder and
Adam Lason. With the support of the Sumo brand, the strategy is to
expand the studio's headcount rapidly, accessing the growing pool
of high-quality developers in the Polish market and focus on
winning third party contracts, while continuing to work on Sumo
Digital projects. The PixelAnt team will also work on Own-IP
opportunities.
The Group has paid an initial cash consideration of GBP250,000
for PixelAnt. A further amount may be payable, in Sumo Group
shares, depending on the EBITDA achieved in the two years to 31
March 2023.
The acquisition of PixelAnt takes Sumo Digital's studio count to
ten and the Group's total to 13, across five countries.
Carl Cavers, Chief Executive Officer of Sumo Group, said:
"Increasing headcount is a key pillar of our growth strategy and
accessing new pools of high-quality talent is vital to the
successful execution of that strategy. I'm really pleased that Adam
and Pawel can see the benefits of joining the Sumo family. Poland
has been on our radar for some time and the acquisition of
PixelAnt, who we know so well, is a great way for us to gain entry
to this exciting market. On behalf of everyone at Sumo, I welcome
the PixelAnt team to the Group and look forward to building a
substantial presence in this thriving new territory."
Enquiries:
Sumo Group plc Via Belvedere Communications
Carl Cavers, Chief Executive Officer
David Wilton, Chief Financial Officer
Zeus Capital Limited (Nominated Adviser
& Joint Broker)
Nick Cowles / Richard Darlington / Andrew Tel: +44 (0) 161 831
Jones 1512
Ben Robertson / John Goold Tel: +44 (0) 203 829
5000
Investec (Joint Broker)
David Flin / Bruce Garrow Tel: +44 (0) 207 597
5970
Belvedere Communications Limited
Cat Valentine Tel: +44 (0) 7715 769
078
Keeley Clarke Tel: +44 (0) 7967 816
525
Llew Angus Tel: +44 (0) 7407 023
147
s umopr@belvederepr.com
About Sumo Group plc
Sumo Group's businesses provide acclaimed development and design
services to the video games and entertainment industries from
studios in the UK, India, Canada and the US.
Sumo Digital, as the Group's primary business, is one of the
UK's largest independent developers of AAA-rated video games,
having studios in Sheffield, Newcastle, Nottingham, Leamington Spa,
Warrington and Pune, India. The business has acquired three studios
since IPO, which operate under their own names, BAFTA award-winning
The Chinese Room in Brighton, Red Kite Games in Leeds and Lab42 in
Leamington Spa. Sumo Digital provides turnkey and co-development
solutions to a global blue-chip client base.
Atomhawk is a multi-award-winning visual design company, with
studios in Newcastle and in Vancouver (Canada), servicing the
games, film and visual effects industries.
Pipeworks is an innovative, well-established, and respected US
video games developer based in Eugene, Oregon. It provides full
development, co-development, and live operations to premier video
game publishers and other partners.
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