Nexon acquires Japanese mobile dev for $500m

Nexon acquires Japanese mobile dev for $500m
Craig Chapple

By Craig Chapple

October 1st 2012 at 12:22PM

Gloops developing ten new titles for Mobage platform targeted at Europe and North America

Asia mobile giant Nexon has swooped in to buy Japanese mobile developer Gloops for $467m.

Based in Tokyo, Gloops has developed a number of title’s for DeNa’s Mobage platform in Japan such as social card battle game Japan Pro Baseball Card Battle and other titles such as Warriors of Odin and Three Kingdoms Guild Battle.

As well as developing titles for the Japan market, Gloops also recently signed a deal with DeNa to develop ten titles for Mobage targeted at North America and Europe over the coming year, as well as one game each for China and South Korea.

“This acquisition significantly accelerates Nexon’s mobile strategy, giving us immediate exposure to Japan’s large and fast growing mobile market,” said Nexon CEO Seungwoo Choi.

“Gloops has established itself as one of the premier mobile game developers in the world and a key player in one of our most important growth areas, with a robust portfolio of hit titles and a strong track record of driving market innovation.

“We look forward to leveraging Gloops’ outstanding capabilities and scale to expand the Nexon game experience to users on mobile platforms worldwide.”

As well as acquiring Gloops, Nexon was recently linked with buying out Half-Life developer Valve for a reported $900m, although this has since been denied by the Steam outfit.

It should also be noted that Valve's valuation is believed to be significantly hire, whilst Gabe Newell has also previously stated his intention not to sell to another company.

Nexon is one of Asia’s largest and most prominent companies in the games industry, and last year raised $1.2 billion from its IPO in Japan.