South Korean game maker Netmarble strikes $830 million deal to acquire Canadian rival

South Korean game maker Netmarble strikes $830 million deal to acquire Canadian rival

Netmarble Games Corp., South Korea’s leading mobile game developer and publisher, said Tuesday that it has agreed to take over Kabam’s Vancouver studio, a deal estimated at up to some 1 trillion won ($838 million) which will help the company expand its presence in the North American market.

The deal with Kabam, a world leader in massively multiplayer free-to-play games for mobile devices, is expected to close during the first quarter of 2017, it added.

But Netmarble did not disclose the terms of the deal, including the value.

Kabam’s Vancouver unit is responsible for the globally popular MARVEL Contest of Champions which has grossed over $450 million since launching in December 2014. The title continues to perform on the App Store’s top grossing charts, consistently ranking within the Top 10.

The studio is also expected to launch the highly anticipated TRANSFORMERS: Forged to Fight, worldwide in the second quarter of 2017.

Netmarble said it will also acquire the customer support teams based in Kabam’s Austin office along with other operations.

Netmarble, established in South Korea in 2000, has been producing and servicing some of the most successful mobile games, including MARVEL Future Fight, Seven Knights, EvilBane (RAVEN in Korea and Japan) and Everybody’s Marble.

Source:http://www.koreatimes.co.kr/www/news/tech/2016/12/134_220514.html

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