Clash of Clans dev sells controlling interest for $1.5 billion
Finnish developer Supercell sells 51 percent stake in company to Softbank and GungHo.
Clash of Clans developer Supercell has sold a 51 percent take in the company to Japanese telecommunications giant Softbank and developer Gungho Online Entertainment in a deal worth $1.5 billion, the Finnish company announced today.
Gungho is responsible for 20 percent of the $1.5 billion investment, or around $300 million.
In a blog post on the Supercell website, CEO Ilkka Paananen explained the thinking behind the buyout, saying it will "accelerate Supercell towards our goal of being the first truly global games company."
"The combination of tablets, mobile, and the free-to-play business model has created a new market for games, one that will be accessible to billions of consumers, more people than ever before in the history of games," Paananen said. "This truly is a new era of gaming and has opened up exciting opportunities for new kinds of companies."
Specifically, Softbank's investment provides Supercell with a "massive selection" of strategic resources, Paananen said, adding that he believes Softbank founder Masayoshi Son is "all about the long-term."
"When we first met, he told me he has a 300-year vision, and I thought he was joking until the following day when he ran me through what it actually looks like and it is indeed very real and extremely inspirational," Paananen said.
Though Softbank will have a controlling interest in Supercell, Paananen said the company remains "in full control of our future" and will continue to run the business independently.
"In fact, and this may sound surprising to some, I feel that with this deal, we're now more independent and in control of our future than we ever have been," he said.
In April 2013, Supercell's two games--Clash of Clans and Hay Day--were generating a combined $2.4 million per day.