White & Case Advises Supercell on US$1.53 Billion Strategic Investment by Softbank and GungHo Online Entertainment
November 5, 2013 ... Global law firm White & Case LLP has represented Finnish games company Supercell Oy on the strategic investment by SoftBank, a Japanese telecoms and internet company, and GungHo Online Entertainment, a Japanese games company, for a total of US$1.53 billion for a 51% interest in the company.
Supercell is an extraordinary success story. Founded in 2010 its two game apps, Clash of Clans and Hay Day, have reached top positions in the 'top grossing app' category of Apple's App Store in 137 countries and 96 countries, respectively. From February 2013 to August 2013, Supercell was the No.1 game app publisher in the App Store. Under the terms of the transaction, Supercell will continue to operate independently.
"White & Case is delighted to have represented Supercell since its seed/Series A financing round in 2010, followed by its Series B and C financing rounds in 2011 and 2013, respectively, up to the present transaction," said Helsinki-based local partner Janko Lindros. "We look forward to contributing further to the Supercell story as it enters into a new, exciting phase in its development."
White & Case has advised on a number of recent TMT transactions, acting for companies, financial institutions and investors. Among others this includes representing Luxoft, a software and IT outsourcing company, in its initial public offering and listing on the New York Stock Exchange; representing the joint bookrunners in the US$212 million IPO and listing on Nasdaq of QIWI plc, a leading provider of next generation payment services in Russia and the CIS; representing the principal shareholders of Stonesoft Corporation in the voluntary public tender offer by McAfee Inc. to purchase all of the issued and outstanding shares and option rights in Stonesoft; and representing the joint bookrunners and ten lead managers in connection with the offering of €750 million Senior Unsecured Convertible Bonds by Nokia Corporation.
The White & Case team was led by Helsinki-based local partner Janko Lindros with partners Petri Haussila and Petri Avikainen and assistance from counsel Suzanne Innes-Stubb and associates Heidi Hietanen, Oona Järvenpää and Jenni Nygård (Helsinki), partner Brady Mickelsen (Silicon Valley), partner James Killick (Brussels) and partner Brian Strawn (Tokyo).
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