SoftBank snaps up a bigger piece of Clash of Clans dev Supercell
Newsbrief: TechCrunch reports that Supercell (Clash of Clans) investor VC Accel has cashed out of the company entirely, selling its stake in the Finnish developer to majority shareholder SoftBank for an undisclosed sum.
While Supercell's current value is yet unclear, this deal is notable because it highlights SoftBank's continuing efforts to pour money into dominating Supercell. Back in 2013 the Japanese mobile giant teamed up with compatriot GungHo Online to spend $1.5 billion on a majority stake in the Clash of Clans developer, and by August 2014 GungHo had gone ahead and sold its stake back to SoftBank.
This latest buyout is part of a late May deal that has catapulted SoftBank's stake in Supercell from 50.5 percent to 73.2 percent. The company states that Supercell will continue to function independently and CEO Ilkka Paananen (pictured, with SoftBank CEO Masayoshi Son) will remain at his post.