Japanese telecommunications and and internet giant, SoftBank Corp, has announced that the company will be acquiring Japanese games developer, GungHo Online Entertainment. An additional USD265 million will be spent to bring SoftBank’s shares in GungHo to 58.5%.
In case you are wondering why I am posting this, GungHo is the parent company of Gravity, developer of the Ragnarok game franchise and also parent company of Grasshopper Manufacture, developer of the console hit, Lollipop Chainsaw. GungHo is also the owner of several other studios via acquisition.
But what really made GungHo successful in recent times and led to this acquisition is its mobile gaming efforts, with the company now worth more than GREE and DeNA after an evaluation made last week. Its latest offering, Puzzle & Dragons, is also making waves in the mobile gaming scene.
SoftBank Corp needs no introduction if you are an avid follower of tech and mobile news. With a market capitalization of over USD43.52 billion at March 2011, it is 1 of the biggest Japanese company.
It will also be acquiring 70% of telecommunications company, Sprint, in a deal worth USD20.1 billion, set to be finalized soon.