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Softbank group to buy 51% stake in Finnish game company Supercell(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Oct. 15 -- (Kyodo) _ Softbank Corp. and its game development unit will purchase a 51 percent stake in major Finnish mobile game company Supercell Oy for $1.53 billion, or about 150 billion yen, to expand the game unit's business overseas, Softbank said Tuesday. Under the agreement, Softbank and Gungho Online Entertainment Inc. will set up a special purpose company in Finland -- owned 80 percent by Softbank and 20 percent by Gungho -- to acquire the stake from late October to early November, Softbank said. Supercell, established in May 2010, has released game titles including "Clash of Clans," which became popular in Apple Inc.'s App Store. Softbank plans to support Gungho's global expansion with the acquisition. The gaming unit is known for its popular smartphone game "Puzzle & Dragons" that has been downloaded over 19 million times in Japan. After Supercell is made into a subsidiary, Softbank CEO Masayoshi Son plans to be one of five directors at the company, which will maintain its headquarters in Helsinki, Softbank said. Current CEO Ilkka Paananen will continue to serve as CEO of the company, Softbank said. (c) 2013 Kyodo News International, Inc. |