Korean video game publisher Nexon has today laid out plans to fully acquire Embark Studios. The studio in which former EA executive Patrick Söderlund is a founding member. The Swedish […]
Korean video game publisher Nexon has today laid out plans to fully acquire Embark Studios. The studio in which former EA executive Patrick Söderlund is a founding member. The Swedish studio is currently doing some interesting work with animations.
The deal which was confirmed today, raises Nexon’s shares in Embark from 66.1% to 72.8%. This will allow the Korean company to buy any remaining shares within the next five years.
Since Embark first opened its doors back in November of 2018. Nexon has been their main source of funding. It was only last month when they became majority shareholder, raising their shares from 32.8% to 66.1%.
Nexon President, Owen Mahoney had this to say about the deal:
“We are very excited about the value and potential that Nexon’s acquisition of Embark unlocks,” said Owen Mahoney, president and CEO of Nexon. “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.”
Mahoney added, “Patrick has a proven track record for both strategic vision and operating a AAA studio. We’re confident about the future of Nexon’s game development and business in Western markets, especially with Embark in the family, and central to our strategy.”
Here’s what Embark CEO, Patrick Söderlund had to say:
“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 Patrick Söderlund. “At Embark, we’re in the midst of developing new technologies, new development methodologies and a new attitude to game development, that will help influence and reshape Nexon’s game development in the years to come.”
It looks like Nexon is really pushing to be successful in the West as well as the East. With Embark at the heart and core of their development strategies. Whether this means that Embark will be the main creators of games or their tech will influence other developers is yet to be seen. I’m sure we’ll find out soon enough.