Sunday, May 31, 2020

Sumo acquires World Snooker Tour IP owner

Sumo Group, the listed service provider to the video games industry, has acquired Lab42, a cross-platform work for hire studio, for $600,000 (£491,000).

The acquisition supports the Sheffield-headquartered group’s growth strategy through increased capacity, adding 29 people and a strengthened presence in the talent hot spot of Leamington Spa. Sumo opened its own studio in the area last year.

Lab42 – which reported unaudited revenue of £1.4 million for the year ended 31 December 2019 – also adds a number of new client relationships.

The Lab42 studio has worked on 17 projects for console, PC and mobile, since it was established in January 2015. Past and present clients include Sega Europe Publishing, Klei Entertainment, Aspyr, Ripstone, Dovetail Games and Payload Studios.

Lab42 holds an exclusive licence to use the World Snooker Tour brand and was sole developer on the photo-realistic, sports simulation game Snooker 19 for all major consoles and PC, published by Ripstone.

It is continuing development on World Snooker products and expects to launch additional games on new devices later this year.

It has also worked on titles under the Yakuza, Sonic and Football Manager brands.

The business, which operates from a single studio in Leamington Spa, was acquired from You42, a company registered in Delaware, USA. Led by Ed Blincoe, the business will continue to operate under the Lab42 name as part of the Sumo Group in the same manner as Red Kite Games and The Chinese Room.

“The opportunity to buy Lab42, a business which is highly respected in the industry and well known to key members of our team, was both timely and compelling,” said Sumo CEO Carl Cavers.

“The addition of a 29 strong, established, proven and talented team will help keep our organic growth ambitions on track, through the COVID-19 pandemic, which, as previously reported, has created some recruitment challenges.

“Lab42 also brings the exclusive licence to use the World Snooker Tour brand which supplements the Group’s strengthening Own-IP portfolio, along with some exciting new client relationships and opportunities.”

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