Finnish video game company Supercell has sold 51 per cent of its shares to the world’s third-largest telecommunications corporation – the Japanese company SoftBank and its GungHo game company.
According to Supercell’s CEO, Ilkka Paananen, the business transaction is a EUR 1.1 billion strategic investment designed to reinforce the company’s global position.
SoftBank can offer Supercell resources that will bring its games to hundreds of millions of new consumers. The company is aiming to bolster its position particularly in Japan, Korea and China.
Paananen stresses that Supercell’s Finnish operations will continue. SoftBank and GungHo will establish an incorporated company in Finland, and the new company will purchase 51 per cent of Supercell’s shares. SoftBank will invest 80 per cent and GungHo 20 per cent of the EUR 1.1 billion for the company. Roughly one quarter of Supercell will remain under the ownership of the company’s employees.
— SoftBank is well-suited to take over as the owner of Supercell, as the company’s management wants to focus on long-term development, said Paananen in the company’s blog.
According to the newspaper Helsingin Sanomat, Supercell estimates that the investments made in the company in April, which were announced on Tuesday, will bring Finland a tax windfall of EUR 160 million.
The Japanese party is also pleased with the deal:
— We have been seeking suitable opportunities around the world. Finland is currently a breeding ground for interesting companies and innovation. Supercell is one of these special companies, says the founder of SoftBank, Masayochi Son.
Long-term co-operation is the objective. SoftBank and Supercell have the shared goal of shaping the field of entertainment and creating iconic games that will be remembered for decades to come.
Article is published in cooperation with Good News from Finland.
