Tue, Mar 26, 2013 | 19:01 GMT
SoftBank picks up controlling stake in GungHo Entertainment
GungHo Entertainment has been striking it rich in the past year thanks to the huge success of their mobile gem-matching RPG Puzzle & Dragons. Japanese telecom giant SoftBank, which already had stake in the company, will be picking up an additional 73,400 shares, bringing their interest to 58.5 percent of the company.
That, of course, makes GungHo an official subsidiary of SoftBank. The shares will be purchased from Asian Groove for ¥25 billion, or $265 million.
Puzzle & Dragons has yet to develop the following in the US that it has in Japan. Even so, the game was apparently pulling in $2 million a day at its peak, making somebody quite rich.
Thanks, GI International