Tencent pays for majority stake in Clash of Clans maker
21 June 2016
- From the section Business
China’s biggest gaming and social network company, Tencent Holdings and its partners are to buy a majority stake in the Finnish maker of the Clash of Clans game.
The deal values Supercell at around $10.2bn (£15.04bn).
Tencent is buying the stake from Japan’s SoftBank Group, which invested in Supercell in 2013.
Founded in 2010, Supercell’s other games include Hay Day, Boom Beach and Clash Royale.
Tencent said it will buy 84.3% of Supercell in three stages via a wholly owned consortium.
The consortium will then be open to other investors, though Tencent said it expects to maintain a 50% voting interest.
Tencent said Supercell’s current management will keep their operational independence and the company will remain in Finland.
Martin Lau, President of Tencent, said: “Tencent is dedicated to building long-term strategic partnerships with leading game companies.
“We are excited that Supercell is joining our global network of game partners, and will preserve their independence and enhance their advantages, thus bringing even more exciting gaming experiences to players around the world.”
SoftBank paid $1.5bn for a 51% stake in mobile game developer Supercell in 2013 and increased its investment two years later.
Masayoshi Son, chairman and chief executive of SoftBank Group said: “Over the life of our investment, Supercell has operated as an independent company, and its unique culture of independent teams has proven itself repeatedly.
The deal is currently expected to be completed later in the year, subject to regulatory approval.
This post was written by FSB News