Sumo managers in buyout deal

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Private equity firm NorthEdge Capital has backed the management buyout of Sheffield software firm Sumo Digital, the award-winning video game development studio.

Founded in 2003, Sumo employs more than 240 people and also has an office in Pune, India.

The company has developed several high profile titles including Forza Horizon 2 for Microsoft’s Xbox360, Sonic and Sega All Star Racing, and Xbox Fitness. Recently, it partnered with Sony to develop Little Big Planet 3, which is due to be released soon.

NorthEdge has backed the existing management team of Carl Cavers, Paul Porter, Chris Stockwell and Darren Mills to complete an MBO from Foundation 9 Entertainment, the US entertainment media company which acquired Sumo in 2007.

A NorthEdge spokesman said: “The Yorkshire gaming industry is worth tens of millions of pounds to the regional economy, and continues to go from strength to strength.

“The sector is supported by several universities in the region.”