HELSINKI (Reuters) - Japan’s SoftBank Corp said on Monday it has increased its controlling stake in Supercell, the Finnish mobile games maker best-known for its hit title ‘Clash of Clans’.
The Japanese communications and media company said it had acquired an additional 22.7 percent share in Supercell, boosting its total stake to 73.2 percent. It did not disclose the price of the deal.
SoftBank bought a majority stake in the firm in 2013 for about $1.5 billion. Last year, Supercell saw its revenue triple to 1.5 billion euros ($1.64 billion) while profit doubled to 515 million euros, making it the world’s top-grossing company in the sector.
A sluggish Japanese economy is forcing Softbank to increasingly look overseas for growth.
SoftBank, in a statement, said that Supercell would continue to operate independently, and Ilkka Paananen would continue to serve as the chief executive officer.
The remaining stake is owned by Supercell’s management and employees.
Reporting By Jussi Rosendahl; Editing by Susan Fenton