Nexon discloses plans to fully acquire Stockholm-based game studio Embark

07, Aug. 2019

SEOUL, AJU - Nexon, a South Korean video game company based in Japan, highlighted its focus on products developed in North America and Europe through a deal to fully acquire a game studio founded by Patrick Söderlund, a Swedish video game expert, following a strategic investment about eight months ago.

Nexon, known for popular games such as MapleStory and Dungeon & Fighter, said in a statement released in Tokyo that it would increase its existing stake in Embark from 66.1 percent to 72.8 percent with an option to fully purchase remaining shares over a five-year period.

Nexon has diversified its business portfolio into blockchain and other technology-related sectors. Embark develops new types of interactive entertainment and simulated virtual online worlds, using streaming, cloud computing and artificial intelligence. In November last year, the game company made a strategic investment in Embark

The acquisition emphasizes its investment into Western game development and strengthens its global position, Nexon said, adding that Embark’s full integration and its key role within Nexon would ensure “a sharp focus on Nexon’s products developed in North America and Europe.”

“We are very excited about the value and potential that Nexon’s acquisition of Embark unlocks,” said Nexo CEO Owen Mahoney. “Bringing Embark fully into the Nexon family will tightly integrate Nexon's expertise in live operations and Embark's capability of creating hit games that resonate globally to powerfully drive and accelerate delivering players great games designed to live on for years.”

“Embark Studios is at the heart of Nexon’s ambition to create ground-breaking online game experiences that are successful on a global scale, especially outside Nexon's core Asian markets. It’s a big challenge, and one I’m itching to work on, to the very best of my ability,” said Söderlund who served as executive vice president in charge of Worldwide Studios at Electronic Arts.

Nexon has diversified its business portfolio into blockchain and other technology-related sectors. Embark develops new types of interactive entertainment and simulated virtual online worlds, using streaming, cloud computing and artificial intelligence. In November last year, the game company made a strategic investment in Embark