Sumo Digital, the British studio behind Sonic & All-Stars Racing Transformed
and LittleBigPlanet 3
, this week completed a management buyout, acquiring itself from parent company Foundation 9 Entertainment.
Sumo was acquired by Foundation 9 back in 2007
, and has since both collaborated on big-name titles, while also building its own games.
Now with an investment backing from private equity firm NorthEdge Capital, Sumo's management has split away from Foundation 9, and gone back to being a fully independent company.
NorthEdge has been investing in a number of northern businesses in the UK, with tens of millions of pounds of investment -- although the firm did not disclose how much it invested in Sumo Digital.