Flipping the standard model of East Coast lawyers establishing California outposts, Stevens and Fenwick opened a New York office June 1. Stevens and law partner Scott B. Joachim lead the transcontinental venture for the technology and life sciences firm. "We're in temporary space in Midtown," Stevens said. "We intend to build out in the Flatiron District." Seven lawyers will offer Fenwick's services to New York technology, life sciences and investment clients. "All but one are transplants from Northern California and Seattle, and we are aggressively recruiting," Stevens said. His recent life has become bicoastal, in addition to his regular business trips to Helsinki, Shanghai and other global destinations. "My life is on planes," he said.
"We're turning things around in a couple of ways," Stevens said. "When East Coast firms open in California, we don't view them as competition. None of the East Coast firms really competes in our core market — and vice versa. We don't really do sophisticated banking and bankruptcy. They don't do everything tech. It is true, though, that we compete head-to-head with Skadden and Latham in international technology mergers and acquisitions." The New York move made sense, he said. "There's a thriving, relatively underserved community of emerging technology companies there, in numbers that now have surpassed Boston."
"Traditional firms don't know how to adapt," Stevens said. "The light touch isn't known as a New York realm of expertise."
One Stevens specialty is in the interactive entertainment sector. He represented Finland-based mobile game maker Supercell Oy in its $8.6 billion acquisition by Tencent Holdings Ltd., one of China's largest and most highly trafficked internet portals. Supercell makes "Clash of Clans," "Clash Royale," "Hay Day" and "Boom Beach," and the June deal is expected to close in the third quarter of this year, positioning the Chinese parent toward the top of the thriving market for games played on smartphones and tablets. Stevens said Supercell gains access to the WeChat and Mobile QQ messaging apps with 762 million monthly active users.
He also represented King Digital Entertainment PLC in its February $5.9 billion sale to Activision Blizzard Inc., joining King's roster of interactive games including "Candy Crush Saga" to Activision's "Call of Duty" and "World of Warcraft." The buyout gives the combined company a portfolio of more than 1,000 game titles.
"I do admit to being a gamer occasionally on occasion, mostly on planes," said Stevens, who flies 100,000 to 300,000 miles annually. "First person shooters and real-time strategy," he added, naming his game type favorites. "Every industry has its lexicon, and gaming is no different. I probably play StarCraft most," he said, naming one of Blizzard's top franchises.
— John Roemer
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390
Send a letter to the editor:
Email: letters@dailyjournal.com