Sumo Group PLC - Sheffield-based video game creator - Says all pre-acquisition conditions have been met or waived, adding that the acquisition of Pipeworks Inc owner Lake Street Labs Buyer Corp is expected to complete Friday. The purchase of the US video games developer for up to USD99.5 million was announced in September. Sumo says the initial consideration of USD59.5 million will be satisfied by the payment of USD35 million in cash from the its existing cash resources and USD24.5 million through the issue of new shares.
Following admission, Sumo's share capital will comprise 169.3 million shares.
Current stock price: 260.00 pence
Year-to-date change: up 43%
By Ife Taiwo; ifetaiwo@alliancenews.com
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