Korean games giant Nexon is escalating its stake in Patrick Söderlund’s (pictured) newly-founded Embark Studios.
The firm previously owned 66.1 per cent of the EA vet’s venture and has mentioned it will quickly personal 72.eight per cent of the Stockholm-primarily based developer.
Additionally, the Korean firm has mentioned that it has the choice to totally obtain Embark more than the subsequent 5 years. This does not necessarily imply that Nexon will snap up the studio in its entirety – in spite of media reports and the company’s personal press release stating this as a certainty – but that it probably has initial refusal on the remaining stake in the organization.
Söderlund announced Embark Studios in November 2018 with Nexon placing up some money to fund the new developer. At this point, the Korean firm owned 33 per cent of the studio, investing a additional $96m into the Stockholm-primarily based outfit in July 2019, bringing its slice of Embark up to 66.1 per cent.
Incidentally, that round of investment would give Embark Studios a valuation of much more than $290m.
“Embark Studios is at the heart of Nexon’s ambition to generate ground-breaking on the net game experiences that are productive on a worldwide scale, in particular outdoors Nexon’s core Asian markets. It is a large challenge, and 1 I’m itching to operate on, to the pretty greatest of
my capacity,” Söderlund mentioned.
“At Embark, we’re in the midst of establishing new technologies, new improvement methodologies and a new attitude to game improvement, that will assist influence and reshape Nexon’s game improvement in the years to come.”
Nexon president and CEO Owen Mahoney added: “We are pretty excited about the worth and prospective that Nexon’s acquisition of Embark unlocks. Bringing Embark totally into the Nexon household will tightly integrate Nexon’s knowledge in reside operations and Embark’s capability of making hit games that resonate globally to powerfully drive and accelerate delivering players good games created to reside on for years.
“Patrick has a confirmed track record for each strategic vision and operating a triple-A studio. We’re confident about the future of Nexon’s game improvement and organization in Western
markets, in particular with Embark in the household, and central to our technique.”