Fenwick represented Jam City, Inc., a leading mobile entertainment company, in its $165 million acquisition of Canada’s leading mobile game studio Ludia Inc. from UK-based entertainment company Fremantle. In connection with the acquisition, Jam City raised $350 million in equity and debt financing from South Korea-based mobile game developer Netmarble, interactive entertainment company Kabam and affiliates of funds managed by Fortress Investment Group.
Jam City’s acquisition of Ludia, whose portfolio includes mobile games Jurassic World and upcoming DC and Disney titles, will continue to fulfill the company’s mission to bolster its global portfolio of top studios that develop and publish top-grossing internally-developed and third-party licensed IP-based games.
Jam City will use proceeds from the financing to help further its strategy to build out its portfolio of bold, innovative and novel studios from around the globe. More information on both transactions can be obtained from the company’s announcement.
The Fenwick transaction teams included corporate partners Mark Stevens, David Michaels, James Evans, Stephen Fisher, Morgan Sawchuk and Katherine Duncan, and associates Zachary Portnoy, Caroline Wells, Eric Cheng, Meghan Bell and Karin Hjorth; executive compensation and employee benefits partners Nancy Chen and Marshall Mort and counsel Jane Piehler; antitrust and trade regulation partner Mark Ostrau; tax partner Will Skinner and associate Michael Knobler; and securities litigation partner Catherine Kevane.