Asian Firm Buys Talking Tom Creator Outfit7

NEW YORK: Outfit7, creator of the global hit Talking Tom and Friends, has sold 100 percent of the company to a consortium of investors from Asia, represented by United Luck Group Holdings, for $1 billion.

Outfit7 employees across companies in the U.K., Slovenia, China and Cyprus are continuing to expand the popular Talking Tom and Friends franchise, which originally launched as an app in 2010 and now includes an animated series on YouTube. The Talking Tom and Friends apps have amassed more than 5.6 billion downloads since their release, with over 300 million active monthly users, according to Outfit7.

Goldman Sachs International was the exclusive financial advisor for the acquisition by United Luck Group Holdings, which is led by Ou Yaping. Taylor Wessing served as legal advisor to Outfit7 and its shareholders.