Nexon acquired GameHi by taking 29.3% of stakes from the major shareholder and chairman of GameHi, Kun IL Kim (52.91%), for 73.2 billion Won (US$ 61 million) on May 26.
GameHi, in the middle of merger discussion with Nexon, released the earning report for 1H 2010.
- Revenue in 1H 2010: 10,928 Million Won (US$ 9.1 Million)
- Net profit in 1H 2010: 2,795 Million Won (US$ 2.33 Million)
The company expects revenue growth in 2H from new game launches including a browser-based game and overseas operation.
I’ve got three M&A news from Korea.
1) CJ Internet Looking into GameHi
CJ Internet is looking into buying GameHi, a developer behind a popular FPS game Sudden Attack. CJ Internet said “we are considering the option in order to strengthen our game development competitiveness, but nothing is decided yet.”
2) A Book Publisher Became a Major Shareholder of YNK Korea
A book publisher of “The Lord of the Rings” in the Korean language, Golden Bough (황금가지: Kor), became a major shareholder by obtaining 33% of total shares of YNK Korea.
3) Nflavor and Aeonsoft ?Became One
Nflavor and Aeonsoft announced their merger on February 10. Both companies are a part of Gala Group. Nflavor’s CEO, Seung Hyun Park, will serve as a CEO of Aeonsoft as well.
This is the second installment of the five-part series: Anything zombie.
The trend started with Counter Strike Online: Zombie 3 and Left4Dead 2, then it took off as other companies added zombie characters in their games such as Nexon America’s Combat Arms, Sonov’s Project D, WeMade’s Gem Fighter, GameHi’s Zombie Online, Nexon’s Bubble Fighter and BnB. It turned out that players loved the fight against the undead.
<Counter Strike Online>
Introducing zombies into the games brought the horror aspect into the simple match. “Zombies naturally play perfect?villains??thanks to its horror and freakish strength. Especially for FPS games, it created a whole new game between player vs. zombie rather than the old player vs. player. Also, the game is not just about one-shot-one-kill anymore. You can fire up all your weapon to kill zombies. And that’s a different kind of fun,” explained an industry insider.
<Even a casual quiz game like BnB adapted a zombie theme>