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Tuesday, Oct 15
SoftBank acquires 51% stake in Supercell for $1.5B
- SoftBank (SFTBF.PK -0.2%) acquires a 51% stake in Finnish online game company Supercell for ~$1.5B, DealBook reports. The game maker will use proceeds to expand in Asian countries, including Japan and South Korea.
- Supercell intends to utilize SoftBank's "strategic resources [to] help us deliver our games to hundreds of millions of new consumers all over the globe," said founder Ilkka Paananen.
- Japanese game maker GungHo Online Entertainment, which is partially owned by SoftBank and already collaborates with Supercell, will invest $300M, or 20%, of the stake.
- SoftBank is aiming to gain a larger foothold in the mobile gaming market, which stands to benefit from enormous data usage tailwinds. Supercell's Clash of Clans and Hay Day are reportedly generating $2.4M in revenue a day.