Following a series of leaked rumors, Chinese tech giant Tencent officially announced the purchase of a majority stake in Supercell, the Finnish gaming company behind the hit game Clash of Clans. The deal will buy a 84.3% stake in the company for $8.6 billion USD from Japanese firm SoftBank Group Corp.

The deal values Supercell at $10.2 billion USD, almost double its valuation a year ago. When SoftBank bought a 51% stake in 2013, the Finnish company was valued at a mere $1.53 billion USD.

“We have agreed with Tencent that Supercell will continue to be operationally independent, exactly as it was under SoftBank’s ownership,” wrote Ilkka Paananen, CEO of Supercell, in a post on the company’s blog.

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Eva Xiao

Eva Xiao is a tech reporter based in Shanghai. Contact her at eva.xiao@technode.com or evawxiao (wechat & twitter).