SoftBank to sell stake in game developer Supercell to China's Tencent

SoftBank Corp. is selling its stake in Finnish game developer Supercell to Chinese technology firm Tencent in a deal announced Tuesday that values the company at about 10.2 billion. Under the deal announced by the three companies, Tokyo-based SoftBank will relinquish its stake in Supercell for 7.3 billion, and Tencent will gain up to 84 percent of Supercell. The rest of Supercell will be owned by its employees. It will continue to run its own operations in Helsinki. Supercell, founded in 2010, developed games for Apple and Google's Android smartphones and tablets, including hits such as "Hay Day," "Clash of Clans" and "Boom Beach."