Korea’s top portal site DAUM acquired control of OnNet with about US$27M.
OnNet is a developer of an online golf game <Shot Online> and sold its 82.52% of the shares to DAUM on December 22. Both companies agreed to conclude the take over procedure by next January, making OnNet a subsidiary of DAUM.
DAUM has established its foundation for the PC online game market through the acquisition following building a mobile game platform in cooperation with a Japanese company DeNA last November.
OnNet has published self-developed <Shot Online> and other games including TCG <Carte> and MMORPG <Hyunmu Online> while developing another online golf game <Tour Golf Online> with CryEngine 3. OnNet’s strength is its global service in NA and Europe securing more than three million registers.
KyungWan Sohn the director of New Initiative of DAUM said “We have accumulated our game marketing experience through the channeling business so far and have confirmed the competitiveness of the sports game-centric platform. We have built a much more powerful multiple games platform through enhancing our capability in the PC online games thanks to this acquisition after the foundation we have established to be first class in the mobile social games.”