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Report: Puzzle & Dragons dev GungHo to buy back majority stake from SoftBank

The deal would be worth around $685 million, and would see GungHo repurchases its own shares for 294 yen ($2.74) each.

Chris Kerr, News Editor

June 6, 2016

1 Min Read

Puzzle & Dragons developer GungHo Online wants to buy back the majority of its shares from Japanese mobile giant SoftBank, reports the Wall Street Journal

The deal would be worth around $685 million, and would see GungHo repurchase its own shares for 294 yen ($2.74) each. The WSJ suggests GungHo will kick off proceedings within 20 days of June 3. 

SoftBank became GungHo's majority shareholder in 2013, when it paid 25 billion yen ($265 million) to up its stake in the company to 58.5 percent. 

This is the second high-profile deal the Japanese firm is reportedly mulling over, and last week it was reported that the company wishes to offload its 73.2 percent stake in Clash of Clans developer, Supercell.

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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