SoftBank Purchases Additional Supercell Oy Shares
SoftBank Corp. (“SoftBank”) today announced that it entered into an agreement with existing investors to purchase a further interest in Supercell Oy (“Supercell”), a subsidiary of SoftBank in Finland. Under the agreement, SoftBank acquired an additional 22.7% holding in Supercell by purchasing stock held by existing external investors (the “Transaction”). Under this Transaction, SoftBank's total ownership in Supercell reached 73.2% (on a fully-diluted basis). Supercell will continue to operate independently and Ilkka Paananen will continue to serve as CEO.
Supercell is a mobile game company headquartered in Finland. Based on its track record of global top selling* mobile game titles including “Clash of Clans”, “Hay Day”, and “Boom Beach”, Supercell is expected to continue to be a leader in the mobile games industry. SoftBank positions its partnership with Supercell as core to its mobile content strategy and believes that strengthening its relationship with Supercell through the Transaction will further contribute to the SoftBank Group's growth over the long-term.
App Annie: As of June 1, 2015 Clash of Clans, Hay Day and Boom Beach have been ranked No.1 on the Highest Grossing Game Rankings for iPad in 149, 128 and 112 countries respectively.
1. State of Share Ownership Before and After Transaction
| (1) State of Share Ownership before the Transaction | 50.5% (fully-diluted basis) |
|---|---|
| (2) State of Share Ownership after the Transaction | 73.2% (fully-diluted basis) Supercell's management and their employees will continue to own the remaining shares. |
2. Timeline
This Transaction closed on May 29, 2015.
3. Advisors
Morrison & Foerster LLP acted as legal advisor, and the Raine Group LLC acted as financial advisor to SoftBank.
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