Supercell invests $37M more in Space Ape Games
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Clash of Clans maker Supercell has increased its stake in Space Ape Games to 75% by investing another $37 million in the game studio.
London-based Space Ape Games is in an expansion mode and it makes titles like the mobile rhythm game Beatstar, as well as past titles like Rival Kingdoms and Transformers: Earth Wars. Supercell, which is majority owned by Tencent, invested $56.6 million in Space Ape Games in 2017 for a 62.6% stake.
“The reasoning is first and foremost the success of Beatstar game, as we spent years working on, learning and mastering a category of music games,” said John Earner, Space Ape Games CEO, in an interview wit GamesBeat. “We have had success in that category and promise that we can continue to improve in that category. Through the game, we’re working on extensions for the future. It’s really compelling to us and to Supercell.”
Now the studio is worth more and Supercell is also extending a $50 million line of credit to Space Ape Games, bringing its total debt and equity investment to $189 million. Space Ape will use the additional funds and credit to grow its team and scale marketing.
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“The financing will really help us chase that success,” Earner said. “I do think the second thing behind that story is confidence and enthusiasm on what else we’re doing, how much we’ve grown over the last few years beyond the music
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