Tencent Holdings is reportedly nearing a deal to buy a majority stake in Finnish games maker Supercell Oy. As Ryan Brooks reports, its the latest push by China’s biggest social network and online entertainment company into the lucrative gaming industry.
Tencent wants to buy the stake from Japanese telecom company Softbank, in a deal that values Supercell at more than 9 billion dollars. Games have long been the a cash cow for Tencent, which is known for funneling money into developers. The company already owns leading PC gamemaker Riot Games- the name behind League of Legends. It also bought Activision Blizzard, which owns the ‘Call of Duty’ franchise. But those deals are small change compared to what Supercell is valued at.