Movida Group, a SoftBank and Asian Groove Joint Venture, Invest EUR 6 million in Habbo, the Leading Online Teen Community and Brand

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Sulake Corporation, which operates the leading online teen community Habbo, has started a new strategic cooperation in Japan.

Sulake Corporation, which operates the leading online teen community Habbo, has started a new strategic cooperation in Japan. Movida Group — a joint venture by SoftBank BB Corp. and Asian Groove — has agreed to invest 6 million Euros of equity into Sulake Corporation. The investment is executed through Movida Investment International.

Sulake is an interactive entertainment company focused on online communities and casual multiplayer games. Sulake was established in 2000 and it has more than doubled its annual revenues each year.

Sulake’s main product is Habbo, a new type of youth brand based on Habbo Hotel, one of the world’s fastest growing online communities for teenagers. To date, over 53 million Habbo characters have been created, with close to seven million unique users visiting the Habbo community each month worldwide. The Habbo brand is currently being extended also to include e.g. mobile games and content, and merchandising and licensing products.

Movida Group is a joint venture by SoftBank BB, a SoftBank Group company, and Asian Groove, one of Asia’s leading interactive entertainment companies.

Timo Soininen, CEO of Sulake Corporation, commented:

“We are happy to have such respected companies as our partners. Their investment and know-how will help us to grow both the Habbo Online community as well as new Habbo brand extensions, such as Habbo Mobile.”

Taizo Son, President of Asian Groove, commented:

“Habbo Hotel has very superior functions as an online community, and we believe it has an enormous growth potential in Japan. We would like to utilize our Group synergy and support Habbo not just in Japan but also in the rest of Asia.”

About Sulake:

Sulake is an interactive entertainment company focused on online communities, casual multiplayer games and social media. Sulake’s main product is Habbo, a new type of youth brand, which is based on one of the world’s fastest growing online communities for teenagers - Habbo Hotel. There are localized Habbo Hotels in 18 countries on five continents supported by a payment network spanning 30 countries. To date, over 53 million Habbo characters have been created and close to 7 million unique users worldwide visit Habbo communities each month (source: Nielsen Netratings, June 2006).

The main shareholders in Sulake include Taivas Group, 3i Group plc, Elisa Group and Benchmark Capital followed by the company's founders Sampo Karjalainen and Aapo Kyrölä, Sulake's CEO Timo Soininen and other personnel.

Sulake has headquarters in Finland and offices in 17 countries. Currently the company has 270 employees worldwide. Sulake is extending the Habbo brand to include e.g. mobile games and content, and merchandising and licensing products.

http://www.sulake.com
http://www.habbo.jp

About Movida Group:

Movida Group, held by Movida Holdings Inc., is a joint venture founded in December 2005 by SoftBank BB Corp. and Asian Groove. Movida Group companies are focused on a wide range of broadband contents, from gamesto web services and applications.

http://movida.jp/

About SoftBank BB:

SoftBank BB Corp., a wholly owned subsidiary of SoftBank Corporation, is providing Internet contents, fiber to the home (FTTH), IT related distribution and services.

https://www.softbankbb.co.jp/

About Asian Groove:

Asian Groove, founded in 1996 by Taizo Son, is a holding company of broadband online entertainment companies.

http://www.asian-groove.com/

For more information:

Juha Hynynen, COO, Sulake Corporation Oy, tel. +358 50 3889485

Takahito Uezono, Country Manager/Representative Director, Habbohotel Japan KK

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