>> Chinese internet Giant, Tencent, on a mission to capture a huge name in mobile gaming. Sources say it's closing a deal to buy a controlling stake in Supercell, the company behind Clash of Clans. Tencent wants to buy the stake from Japanese telecom company, SoftBank, in a deal that values Supercell at more than $9 billion.
Games have long been the cash cow for Tencent which is known for funneling money into developers. The company already owns leading PC game maker Riot Games, the name behind League of Legends. It also bought Activision Blizzard which owns the Call of Duty franchise, but those deals are smaller change compared to what Supercell is valued at.
Mobile gaming can be hit or miss because so many games are free with relatively low levels of in-app purchases. But Tencent has been testing the waters to the likes of Deer hunter and Kim Kardashian of Hollywood, both parts of its push into the US market. Sources say the Supercell deal could go through as early as next week.