Puzzle and Dragons firm gains $344m as it focuses on emerging markets
Japanese games firm GungHo Entertainment has decided to sell its stake in Clash of Clans creator Supercell.
The stake has been soft to GungHo's parent company SoftBank so that the former can focus on emerging markets. China, Southeast Asia and South America were specifically identified according to GamesIndustry.
To that end, GungHo has also announced it will open a Singapore-based subsidiary, GungHo Online Entertainment Asia Pacific, which will handle the firm's gaming business and investments in the country. The office is expected to open next month.
GungHo and SoftBank made the surprising move to acquire a stake in Finnish firm Supercell back in October. The pair put forward an impressive $1.5bn for a 51 per cent stake.
GungHo, best known for its mobile title Puzzle & Dragons, will reportedly receive $344m for this sale.