Korean free-to-play MMO company Nexon Corp. announced its acquisition of 38 million more shares in Seoul-based developer GameHi, spending ₩56 billion, or around $48.2 million, on the purchase.
Nexon held a controlling share in the developer already; it purchased 48 million shares
from GameHi's CEO and president Kim Gun Il, or around 29.3 percent of its shares, in a $59.8 million deal in May. With this new transaction of Gun Il's remaining shares, Nexon now has 86 million GameHi shares, or around 52 percent.
Like Nexon, GameHi specializes in creating free-to-play MMOs, such as Sudden Attack, Metal Rage, Transpee
, and Spring
(pictured), the developer's most popular title, is a 3D fantasy MMORPG that has so far attracted over 20 million registered users across 50 countries.
publisher also announced an agreement for its Japanese arm to co-service GameHi's Dekaron
and Sudden Attack
in that region, both of which are currently operated by Tokyo-based publisher and GameHi subsidiary Game Yarou.
"Additional acquisition of shares will strengthen managerial rights and maximize synergy between Nexon and GameHi," says Nexon CEO Seo Min, according to a report
from IndustryGamers. "... [We will] utilize the various companies Nexon holds in order to improve the results of games developed by GameHi. ... The [deal between] Nexon Japan and Game Yarou is the first step in this attempt."