Clash of Clans developer Supercell purchased by Chinese giant Tencent for $8.6B

Supercell, the development studio behind the mobile sensation Clash of Clans, has just been valued at $10.2 billion thanks to an $8.6 billion deal with Chinese internet giant Tencent Holdings, according to the Wall Street Journal.

Tencent, best known for their controlling stake in Riot Games' League of Legends, will acquire Supercell in stages, with a full purchase of the studio expected to go through in the third quarter of the fiscal year. Tencent is purchasing the majority stake from Japanese telecommunications company SoftBank, and as long as there aren't any regulatory concerns raised over the purchase in the next couple of months, Tencent will become the majority shareholder in the company. SoftBank will no longer have anything to do with Supercell.

Last year, Supercell was valued at $5.25 billion, meaning that the studio has just about doubled its value. The deal with Tencent doesn't just add value to Supercell, either. The acquisition of Supercell, alongside the massive success of League of Legends, officially makes Tencent the leading company in the personal computer games industry, according to the Journal.

Included in the games Tencent will acquire with the purchase of Supercell are Clash of Clans, Hay Day, Clash Royale and Boom Beach. According to statistics from research firm Newzoo, all four titles were among the top 20 games in the App store on iOS in May based on revenue.