China's Tencent is buying 'Clash of Clans' maker Supercell for $8.6bn

China's internet giant Tencent Holdings and its partners will play $8.6 billion to purchase an 84.3 percent stake in Supercell, the Finnish developer behind the popular mobile titles including Clash of Clan and Clash Royale.

Tencent and its partners will purchase the stake in Supercell from Japanese telecommunications giant SoftBank Group. According to The Wall Street Journal, Supercell is valued at $10.2 billion and is the latest investment by Tencent, and SoftBank will no longer own any shares in SuperCell following the closing.

Tencent already has its presence in the PC game market due to its ownership of Riot Games, makers of the most popular game, League of Legends. Acquiring Supercell, will ensure the company to foray into the mobile/tablet games market.

The transaction is expected to close sometime in Q3 2016, given that customary regulatory approvals and closing conditions are met. Supercell will continue to operate independently from its home base in Helsinki, Finland.

WSJ