Tencent to Acquire Majority Stake in Supercell from SoftBank
21.6.2016 10:09 | Business Wire
Supercell Oy (“Supercell” or “the Company”), SoftBank Group Corp. (SBG) (TSE:9984) and certain of its subsidiaries (“SoftBank”), and Tencent Holdings Limited (SEHK:00700) (“Tencent”) today announced the signing of a definitive agreement pursuant to which a consortium established by Tencent (the “Consortium”) will acquire up to 84% of Supercell in a transaction valuing the Company at an equity value of approximately USD 10.2 billion1 (approximately JPY 1.1 trillion2).
Following the transaction, Supercell will be owned by the Consortium and by Supercell’s employees. Supercell will retain its independent operations, the headquarters will remain in Helsinki, Finland and its existing team will continue to run all operations of the Company. To focus on continued success, every employee is already an equity holder in Supercell and the partnership with Tencent will significantly enhance this commitment. Every employee will take part in a new long-term incentive plan, and will be able to sell their vested shares annually to Tencent.
The transaction, which is currently expected to close during the third calendar quarter of 2016, is subject to customary regulatory approvals and closing conditions.
SoftBank will no longer own any shares in Supercell following closing.
Masayoshi Son, Chairman and CEO of SoftBank Group Corp., said: “We have enjoyed an outstanding relationship with Ilkka and the Supercell team, and it has been our privilege to be part of Supercell’s incredible growth story. Over the life of our investment, Supercell has operated as an independent company, and its unique culture of independent teams has proven itself repeatedly. I have great respect for Tencent and its leadership in games, and believe that with its commitment to respect Supercell’s independence, Tencent represents the ideal partner to take Supercell’s business to the next level. Our decision to divest our shares is driven by our continued focus on monetization for the benefit of our shareholders and on capital structure discipline, both key pillars of our SoftBank 2.0 strategy."
Ilkka Paananen, CEO of Supercell, said: “Today is about chasing a future for Supercell that we have always dreamed of. We founded Supercell to make great games that people all over the world would play for decades and become part of the rich history of games. We've made excellent progress - over the past six years, we’ve created four top games that are now played by over 100 million people every single day. Tencent’s investment secures what has made all of this possible, which is our independence and unique culture of small and independent teams. We want Supercell to be the world’s best place for creative people to create games. At the same time, this new partnership offers us exciting growth opportunities in China, where we will be able to reach hundreds of millions of new gamers via Tencent’s channels.” Read more thoughts from Ilkka on the transaction: http://supercell.com/en/nextchapter/.
Martin Lau, President of Tencent, said: “Supercell is known for its creativity, focus on player experience, and unique culture, which have enabled it to create innovative mobile games that are wildly popular globally. Tencent is dedicated to building long-term strategic partnerships with leading game companies. We are excited that Supercell is joining our global network of game partners, and will preserve their independence and enhance their advantages, thus bringing even more exciting gaming experiences to players around the world. It is important to us that Supercell stays true to its roots by sustaining its unique culture, continuing to be headquartered in Finland, and representing its home proudly.”
As of the signing of the definitive agreement, Tencent holds all outstanding interests in the Consortium. Following the closing, Tencent currently expects to maintain a voting interest of 50% in the Consortium, such that in accordance with the provisions of the relevant International Accounting Standards, Tencent will account for dividend or distribution of profit, if any, from the Consortium as dividend income in its income statement. As such, Tencent will not consolidate or equity-account for its investment in the Consortium. This structure will give existing Supercell management maximum independence in order to incentivize and drive future performance, while enabling Supercell to access all of Tencent’s expertise and user base. In parallel to the transaction, Tencent and Supercell have entered into marketing and publishing arrangements regarding the distribution of games developed by Supercell in China.
Morgan Stanley & Co. International plc served as financial advisor and Fenwick & West LLP and White & Case LLP as legal advisors to Supercell. The Raine Group LLC served as financial advisor and Morrison & Foerster LLP and Hannes Snellman as legal advisors to SoftBank. BofA Merrill Lynch served as financial advisor and Covington & Burling LLP and Slaughter and May as legal advisors to Tencent.
Supercell is a mobile game developer based in Helsinki, Finland, with offices in San Francisco, Tokyo, Seoul and Beijing. Its games are available for tablets and smartphones using both Apple’s iOS and Google’s Android operating systems. Since its founding in 2010, Supercell has brought four top games to the market - Hay Day, Clash of Clans, Boom Beach and Clash Royale, each of them have made it top-10 grossing globally, two of which have been #1 games. Today, these games are played by more than 100 million people every day. The company was founded on the belief that ‘the best teams make the best games’, and operates under a unique organizational model that is based on small and independent teams known as “cells”.
About the SoftBank Group
The SoftBank Group is a global technology player that aspires to drive the Information Revolution by supporting disruptive entrepreneurs. The SoftBank Group is comprised of the holding company SoftBank Group Corp. (TOKYO:9984) and its global portfolio of companies, which includes advanced telecommunications, media and Internet services, robotics and clean energy technology providers. To learn more, please visit softbank.com.
Tencent uses technology to enrich the lives of Internet users. Every day, hundreds of millions of people communicate, share experiences, consume information and seek entertainment through our integrated platforms. Tencent’s diversified services include QQ, Weixin/ WeChat for communications; Qzone for social networking; QQ Game Platform for online games; QQ.com and Tencent News for information and Tencent Video for video content.
Tencent was founded in Shenzhen in 1998 and went public on the Main Board of the Hong Kong Stock Exchange in 2004. The Company is one of the constituent stocks of the Hang Seng Index. Tencent seeks to evolve with the Internet by investing in innovation, providing a mutually beneficial environment for partners, and staying close to users. For more information about Tencent, please visit www.tencent.com/ir.
1 Estimate at closing as of signing date of June 21, 2016.
2 Based on USD / JPY exchange rate as of June 20, 2016.
SoftBank Group Corp. Communications
+81 3 6889 2300
Sard Verbinnen & Co.
(86) 755 86013388 Ext. 88369 / (852) 3148 5100
(86) 755 86013388 Ext. 83731 / (852) 3148 5100
(86) 755 86013388 Ext. 66630 / (852) 3148 5100
(86) 755 86013388 Ext. 56011
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Spirent Tests Wi-Fi Network Performance with O2 at the Coca-Cola London Eye17.8.2017 15:57 | Pressemelding
Spirent Communications plc (LSE:SPT), today announced its Landslide E10 network test platform has been used with O2 to validate the Wi-Fi network performance and capacity at the Coca-Cola London Eye, before the launch of a new smartphone application last month. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170817005758/en/ Spirent Landslide E10 helped O2 validate Wi-Fi performance and capacity at the Coca-Cola London Eye, before the launch of a new smartphone application last month. (Photo: Busines Wire) Merlin Entertainments plc, operator of the London Eye, wanted to measure its Wi-Fi network performance, to ensure its infrastructure could provide an excellent experience for users of the new app, which puts increased demands on the Wi-Fi network. “The London Eye is a global attractio
Watch BizWireTV: A Camera You Can Wear and Krispy Kreme’s Famous Donuts Get Eclipsed with Chocolate17.8.2017 12:08 | Pressemelding
On BizWireTV, catch some Quick Biz Hits and see the latest in Star Power. Also see what’s happening in the startup world with the Accelerator Report, featuring the VC Watch and this week’s Startup Standout. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170817005305/en/ BizWireTV is hosted by Jordyn Rolling (Photo: Business Wire Now you can watch BizWireTV, and the latest breakthroughs in tech from the biggest brands, on any screen you want by downloading the new app through the Apple TV and iPhone App Store and Google Play for Android devices. Top of the Wire Introducing FrontRow: the camera re-invented. Watch BizWireTV to see more disruptors as well as the top 5 trending stories of the week! A core c
PsiOxus Therapeutics Announce Two New Board Appointments: New Board Appointments Strengthen Company’s US Presence17.8.2017 07:00 | Pressemelding
PsiOxus Therapeutics, Ltd. (PsiOxus) today announced the appointment of Charles Rowland and Duncan Higgons to the Board of Directors as part of an ongoing drive to expand in the US. Charles Rowland was most recently the President and Chief Executive Officer (CEO) of Aurinia Pharmaceuticals, a clinical stage pharmaceutical company focused on the global lupus nephritis market. Prior to this, he served as the Vice President and Chief Financial Officer (CFO) of ViroPharma, during which time the company grew into a global biopharmaceutical business with $500 million in annual revenues until it was acquired by Shire plc for $4.2 billion. Before joining ViroPharma, Mr. Rowland was executive Vice President, CFO, and interim co-CEO, for Endo Pharmaceuticals. In his earlier career, Charles held finance and operational positions at Biovail Pharmaceuticals, Breakaway Technologies, Pharmacia
Smarsh Adds Voice Archiving Offering with Acquisition of London-Based Cognia17.8.2017 06:59 | Pressemelding
Smarsh®, providing information archiving solutions for compliance, e-discovery and risk management, has completed the acquisition of Cognia, a worldwide leader in cloud-based voice archiving, audio search and analytics. Smarsh will leverage Cognia’s intellectual property and development resources to offer its global customer base enhanced capabilities around mobile and fixed-line voice communication – alongside a market-leading range of electronic communications – within The Archiving Platform. The acquisition will expand the existing presence of Smarsh in Europe and is central to its MiFID II compliance solution for financial firms. In addition to capturing incoming and outgoing communication from fixed-line recording solutions, Cognia uniquely captures voice content directly from leading mobile carriers. Carrier-direct capture is the most reliable and automated method for capt
Schlumberger Announces Third-Quarter 2017 Results Conference Call16.8.2017 21:23 | Pressemelding
Schlumberger Limited (NYSE:SLB) will hold a conference call on October 20, 2017 to discuss the results for the third quarter ending September 30, 2017. The conference call is scheduled to begin at 8:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (800) 288-8967 within North America or +1 (612) 333-4911 outside of North America approximately 10 minutes prior to the start of the call, and ask for the “Schlumberger Earnings Conference Call.” A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call,
Rimini Street Named to Inc. 5000 List for Seventh Consecutive Year16.8.2017 18:20 | Pressemelding
Rimini Street, Inc., a global provider of enterprise software products and services, and the leading independent support provider for Oracle and SAP products, today announced that it was named to Inc. magazine’s 36th annual Inc. 5000 list for the seventh consecutive year. The Inc. 5000 list is an exclusive ranking of the nation’s fastest-growing private companies and represents the most comprehensive look at America’s entrepreneurs. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170816005908/en/ Rimini Street has earned a place on the annual Inc. 5000 list since 2011, joining an elite group – approximately 2% – of Inc. 5000 honorees to ever achieve this milestone. (Photo: Business Wire) Rimini Street has earned a place on the annual Inc. 5000 list since 2011, joining an elite group – approximatel
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom