News Softbank to Turn GungHo into Subsidiary
posted on 2013-03-25 23:40 EDT
Japanese digital publishing company SoftBank will expand its stake in the game company GungHo Online Entertainment in April. SoftBank is looking to spend 25 billion yen (about US$265 million) to buy shares from Asian Groove, a company run by GungHo chairman Taizo Son. Son is also the brother of SoftBank CEO Masayoshi Son. After the deal, Softbank will have a 58.5% stake in GungHo.
GungHo Online Entertainment owns Goichi Suda's (SUDA51's) game developing studio Grasshopper Manufacture Inc. (No More Heroes, Lollipop Chainsaw) and game developer Acquire (Tenchu). It administers the Ragnarok Online MMORPG and it co-produced the Ragnarok anime spin-off.