Company Information

Sumo is one of the UK’s largest providers of creative and development services to the video games and entertainment industries. The group delivers full-service visual and development solutions, including initial concepts and pre-production, production and development and post-release support.

Terms of the Deal

Sumo Group was admitted to trading on London’s Alternative Investment Market (AIM) on 21 December 2017 with a market capitalisation of £145m, in addition to a £78.1m institutional placing. Zeus Capital acted as nominated adviser and sole broker on the transaction.

Market Opportunity

The growth of digital distribution has resulted in an increase in the demand for high quality creative output from publishers to satisfy consumer requirements. Sumo believes that it is well positioned to benefit from this growth in demand.

Sumo’s core strategy is to continue to grow organically as one of the leading co-developers of AAA-rated gaming titles in the world. This primarily includes using its contracted development fee model to minimise risk and take advantage of the forecast growth in the global video game market.

Carl Cavers, founder and CEO at Sumo Group, said: “This is a significant step forward in Sumo’s journey to become a global leader in premium development and creative services to the video game and wider entertainment industries. We have had an overwhelmingly positive response to the IPO, which has been very well supported by blue chip institutional investors.

“Our people are our business; we believe our teams are very well positioned to lead the way in one of the world’s most exciting creative industries. Being a quoted company in a fast-growing tech sector will, we believe, allow us to execute our strategy, whilst continuing to put quality and creativity at the forefront of the products and services we deliver.”

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