Mary-Anne Lee · · 1 min readPuzzle & Dragons developer Gungho is setting up shop in Singapore
It looks like Gungho Online Entertainment, developer of the hit mobile game Puzzle & Dragons, will be focusing more on emerging markets and Asia from here on.
The company announced today the sale of its stake in Supercell, developer of Clash of Clans, for that reason. The stake was bought by Gungho’s parent company, Softbank, for $344 million. This follows the announcement made yesterday of Gungho’s plans to set up shop in Singapore next month.
(See: Candy Crush developer acquires Singapore’s Nonstop Games for $6m, employees get $10m)
The new office will be led by Kazuya Sakai, a member of the Gungho board. With a capitalization of S$7 million (approximately $5.6 million), the upcoming Gungho Online Entertainment Asia Pacific Pte Ltd will also have $300 million ready to invest.
Gungho is listed with a $6.1 billion market cap right now, and is the biggest mobile game company in Japan.
(via Serkan Toto, base image source)
A refresher on the Softbank acquisition:
Softbank and GungHo have acquired 51% of Supercell for $1.53 billion. (Updated)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
