After the buyout, Supercell is now valued at $10.2 billion.

It may be hard for Western gamers to imagine right now, but mobile gaming is definitely encroaching upon console gaming as the most popular way to play video games. One could probably argue that it’s already taken over console gaming completely as far as sheer numbers are concerned. Think about it: how many of your friends and family members own and play games on an Xbox One or PS4? Now consider the friends and family members who own smartphones and tablets, and play the occasional game of Candy Crush or Clash of Clans. These games are absurdly popular, and they’re generating tons of revenue.

Recently, Activision Blizzard bought out Candy Crush developer King for a little over $6 billion USD. I thought that was a huge deal, but today we learned about an even larger purchase. Chinese giant Tenecent has purchased Clash of Clans developer Supercell for a staggering $8.6 billion. I can’t even fully grasp that number – it’s insane. Tenecent is now the undisputed big-shot in China, also laying claim to a controlling stake in League of Legends. With the purchase of Supercell, Tenecent acquires not only Clash of Clans, but Hay Day, Clash Royale, and Boom Beach as well. Needless to say, there are a lot of lucky Supercell employees currently shopping for new cars right now.