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Sumo Digital may go public in new IPO worth $198 million

British independent game studio behind Crackdown and Dead Island 2 may go public with an IPO worth $198 million.

@DeekeTweak
Published Tue, Oct 17 2017 5:27 PM CDT   |   Updated Mon, Oct 19 2020 8:18 PM CDT

Sumo Digital, the UK-based independent games developer known for titles like Crackdown 3, Dead Island 2 and Forza Horizon 3, plans to go public with an IPO worth $198 million, British publication The Times reports.

Sumo Digital may go public in new IPO worth $198 million | TweakTown.com

Sources familiar with the matter tell The Times that Sumo Digital are currently preparing to go public in London in an IPO worth £150m, or about $198 million based on recent conversions. The developer has hired Zeus Capital to help plan the IPO, and the company's co-founders, Carl Cavers and Paul Porter, will receive significant portions of the offering thanks to their current stakes.

Interestingly enough, Sumo Digital is currently run by equity firm Perwyn, who has majority of the company's stake after a buyout in 2016. It will be interesting to see how this IPO affects the development of future games such as Crackdown 3, which has been delayed to 2018, and Deep Silver's often-delayed Dead Island 2.

"Dead Island 2 is in development at Sumo Digital, and we are excited by the progress the team are making with Deep Silver's most successful IP," Deep Silver, who will publish Dead Island 2, told Eurogamer back in May. "When we are ready to share more information, we will."

Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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