June 17, 2016 Comments Off on Tencent to acquire Supercell
Tencent, China’s largest internet service portal, is about to close a deal to acquire a majority stake in Supercell Oy, the Finland-based startup that created the popular game Clash of Clans. Tencent is currently in discussion with SoftBank of Japan, which owns 73.2% controlling stake in Supercell. Other financiers, including Hillhouse Capital Group of Beijing, will be part of the deal as co-investors. According to sources, Softbank has been planning to sell its stake in Supercell to reduce its mounting debt caused after its failure to turnaround Sprint, the US telecom company it acquired back in 2013. The acquisition will allow Tencent to cash-in on the lucrative world of mobile gaming.
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