Niantic Acquisition, Valuation, Funding & Investors

Six Nations Rugby Ltd. is the Dublin-based organising body for international rugby union's Six Nations Championships, owned by the rugby unions of England, France, Ireland, Italy, Scotland and Wales together with CVC Capital Partners. It runs the men's Six Nations Championship, branded Guinness M6N, the women's and under-20s championships and the Autumn International series, and centrally negotiates and manages their commercial rights. The men's tournament traces back to the Home Nations Championship of 1883, became the Five Nations when France joined in 1910 and the Six Nations when Italy joined in 2000; it is played each year from February to March, with each team meeting every other once. Revenue comes from broadcast rights, sponsorship, such as the Guinness title partnership, and other commercial rights, which are distributed to the six unions. In March 2021 Six Nations Rugby agreed a long-term strategic partnership in which CVC Fund VII invests up to £365 million, paid to the unions over five years, for a one-seventh share, while the unions keep six-sevenths, sole responsibility for sporting matters and majority control of commercial decisions. The partnership funds growth of the tournaments, brands, data and technology capabilities.

Koei Tecmo Holdings is a Japanese video game, amusement, and anime company created in 2009 by the merger of Koei and Tecmo, best known for their Nobunaga’s Ambition, Romance of the Three Kingdoms, Nioh, and Atelier game franchises. The company also creates games based on third-party franchises, such as Nintendo’s The Legend of Zelda and Fire Emblem, and Kodansha’s Attack on Titan.

G-bits Network Technology (Xiamen) Co Ltd develops video games and other multiplayer online games. It offers client, Web, mobile, and VR games. Geographically, it operates through the region of China.

Madison Square Garden Entertainment Corp provides live entertainment, delivering unforgettable experiences while forging deep connections with diverse and passionate audiences. The company’s portfolio includes a collection of world-renowned venues - New York’s Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, and Beacon Theatre; and The Chicago Theatre - that showcase a broad array of sporting events, concerts, family shows, and special events for millions of guests annually. In addition, the company features the original production, the Christmas Spectacular Starring the Radio City Rockettes, which has been a holiday tradition for 89 years.

Sphere Entertainment Co is a live entertainment and media company. The firm creates, writes, casts, produces, and tours shows and events. The group has two reportable segments: Sphere and MSG Networks. Sphere is a next-generation entertainment medium, and MSG Networks operates two regional sports and entertainment networks, as well as a direct-to-consumer (DTC) and authenticated streaming product.

JOYY Inc is a technology company. The Company operates several social products, including Bigo Live for live streaming, Likee for short-form videos, Hago for multiplayer social networking, an instant messaging product, and others. The Company operates through two segments: BIGO and All other. The BIGO segment consists of several social entertainment platforms, including Bigo Live, Likee, imo, and others. The All other segment consist of Hago, Shopline, and certain audio live streaming platforms.

Talkweb Information System Co Ltd is a provider of software and hardware integrated products and solutions in China. It offers software cloud services, intelligent computing, Hongmeng ecology, and mobile games. The company provides services to approx. 31 provincial-level administrative regions across the country and more than 10 overseas countries. It focuses on key areas and industries such as digital government, intelligent manufacturing, intelligent transportation, intelligent education, and intelligent parks.

Harris Blitzer Sports & Entertainment (HBSE) is an American sports and venue management company headquartered in Camden, New Jersey. It owns and operates the NBA's Philadelphia 76ers and the NHL's New Jersey Devils with their minor league affiliates, the Delaware Blue Coats and the Utica Comets, and holds a Philadelphia WNBA franchise due to begin play in 2030. It also runs Newark's Prudential Center through subsidiary Devils Arena Entertainment and the Loew's Jersey Theatre, manages non-NFL events at Northwest Stadium, and has HBSE Ventures, HBSE Real Estate and a minority stake in NASCAR team Joe Gibbs Racing. Its revenue comes from ticketing, media rights, sponsorship and events. HBSE was formed on 25 September 2017 by Apollo co-founder Josh Harris and Blackstone executive David Blitzer, whose groups had bought the 76ers in 2011 and the Devils with Prudential Center operating rights in 2013. CNBC valued the company at $14.6 billion in July 2025. Tad Brown, formerly chief executive of the Houston Rockets, has led HBSE since 2021, and in January 2025 it dropped its planned 76 Place arena in favour of a new arena in South Philadelphia with Comcast Spectacor.

Yello Mobile is a Seoul-based mobile apps platform that aggregates more than 80 startups under its SMATO framework, spanning shopping, media, advertising, travel, and offline-to-online services. Key products include the shopping search app Coocha and digital media platform Pikicast. At its peak, Yello Mobile served roughly 18 million monthly active users in South Korea, about a third of the country's population.

Lionheart Studio is a Seongnam-based developer of multiplayer online role-playing games headquartered in Gyeonggi Province, South Korea. Founded in 2017, it publishes titles for PC and mobile devices targeting Asian markets.

Wildlife Studios is a Brazilian mobile gaming company founded in 2011 by brothers Arthur and Victor Lazarte. It operates a freemium gaming platform that has launched more than 60 titles, including Zooba, Tennis Clash, and Sniper 3D, accumulating over 2 billion downloads and 100 million monthly active users. The company also supports third-party game developers on its platform, alongside its own studio output.

Kingsoft Corp Ltd is a Chinese software and Internet services company. The company's operating segment includes entertainment software and others and office software and services. It generates maximum revenue from the entertainment software and others segment. The entertainment software and others segment is engaged in the research and development of games, and the provision of online games, mobile games and casual game services. Geographically, it derives a majority of revenue from Mainland China, and also has its presence in Hong Kong, and Other Countries.

NC Corp is a South Korean video-game developer and publisher. Its games include Lineage, Blade & Soul and Guild Wars.

Sorare is a Paris fantasy-sports company founded in 2018. Its platform lets users collect officially licensed digital player cards and enter fantasy competitions based on real-world football, baseball and basketball performance. Scarce cards are recorded using blockchain technology and can be bought and sold by users, while free-entry modes broaden access beyond collectors. The company works with professional leagues, clubs and player associations to license teams and athletes. Revenue comes principally from primary sales of digital cards and marketplace-related economics. Sorare has built an international consumer community and combines gaming, sports data, digital collectibles and licensed entertainment content. Official partnerships with leagues and clubs provide intellectual-property rights that distinguish the platform from unlicensed fantasy products.

Suning Sports is the sports arm of Chinese retail and property conglomerate Suning Holdings Group, headquartered in Nanjing, Jiangsu, and incorporated as Jiangsu Suning Sports Industry Co., a joint venture of Suning Holdings, which owned 90% at the end of 2016, and Suning Appliance Group. It built a business spanning sports media, over-the-top streaming, sports retail and youth training. Its digital platform PP Sports bought Chinese broadcast rights to major football competitions, including the Premier League, La Liga, Serie A, Ligue 1, the Chinese Super League and, from 2018-19, exclusive television and online rights to the Bundesliga for five seasons, along with AFC competitions and WWE, earning revenue from subscriptions and advertising. It opened its first flagship fan store in Nanjing in 2017, planning 152 stores by 2020, and developed grassroots training programmes. Through its Hong Kong subsidiary Suning Sports International, it sits above Great Horizon, the vehicle through which Suning bought a majority stake in Inter Milan in 2016, and the group also owned Chinese Super League club Jiangsu Suning. In July 2018 Suning Sports raised a $600 million Series A led by Goldman Sachs and Alibaba, with Evergrande, Yunfeng Capital, SenseTime, CCB International and others, valuing it at about $2.6 billion. Under financial strain, Suning halted operations at its Chinese football clubs, including champions Jiangsu, in February 2021.

Games24x7 is a Mumbai-headquartered online skill gaming company operating RummyCircle, India's largest online rummy platform, My11Circle, the country's second-largest fantasy sports platform, and U Games, a portfolio of casual gaming titles. The company serves more than 100 million users from offices in Bengaluru, New Delhi, Miami, and Philadelphia.

XD Inc is an investment holding company. It is principally engaged in the development, operation, publishing and distribution of mobile and web games and operation of TapTap, a game community and platform. Its operating segments are game segment, offers game publishing and operating services on its own and via other Distribution Channels. Revenues from the game segment are mainly derived from game publishing and operating services. The TapTap platform segment offers online marketing services to game developers, game publishers, or their agents through the group's self-developed primary game community and platform. It generates majority of revenue from Game segment. Geographically majority of revenue comes from Chinese mainland.

Moon Active is a Tel Aviv-headquartered mobile game developer renowned for Coin Master, a social casino adventure game with over 100 million downloads on iOS and Android. The studio produces engaging titles blending slot mechanics, village building, and multiplayer raids, distributed globally via app stores and Facebook. It maintains a top position among free-to-play gaming companies.