The long rumoured acquisition has reportedly come to pass: Chinese internet giant Tencent Holdings has begun its purchase of the majority stake in Supercell.
The Wall Street Journal, via Polygon, reports that the deal cost $8.6bn and sees Tencent buy the stake previously owned by Japanese telecomms firm SoftBank, which will no longer have any association with Supercell.
Tencent also acquires Supercell’s games catalogue: Clash of Clans, Clash Royale, Boom Beach and Hay Day. Combined with its controlling stake in Riot Games’ League of Legends, it is now the biggest games firm in the world.
The acquisition will be completed in several stages, with the studio expected to be fully purchased by the third quarter of the financial year.
Supercell was valued last year at $5.25bn, but the Tencent acquisition nearly doubles this to $10.2bn.
Tencent was first rumoured to be Supercell’s buyer last month, shortly after reports emerged that SoftBank was considering selling its stake the studio.