TOKYO--(EON: Enhanced Online News)--NEXON Co., Ltd. (“Nexon”) (3659.TO), a worldwide leader in free-to-play online games, today announced a strategic partnership with moonrabbit, a mobile game development studio based in Seoul, South Korea. Financial terms of the transaction were not disclosed.
“We are excited to work with moonrabbit’s talented team to deliver their innovative titles to more players on more platforms around the world.”
Founded in 2013, moonrabbit is the developer behind the hit South Korean title, Fantasy Runners for Kakao, which received over 1 million downloads in the first week following its July 2013 launch. Under the terms of the agreement, Nexon will make a cash equity investment in exchange for a strategic equity stake in the company. The agreement provides Nexon with global publishing rights to the Fantasy Runners series in addition to certain rights for new titles. In conjunction with the investment, Nexon will nominate a member to moonrabbit’s Board of Directors. Additional terms of the partnership were not disclosed.
“This partnership marks another important step in our mobile strategy and will expand our library of mobile titles in Korea and around the world,” said Owen Mahoney, Chief Financial Officer of Nexon Co., Ltd. “We are excited to work with moonrabbit’s talented team to deliver their innovative titles to more players on more platforms around the world.”
“We are thrilled to have the opportunity to collaborate with Nexon,” said Yungi Jang, CEO of moonrabbit. “We look forward to leveraging Nexon’s multi-platform publishing expertise as well as the Company’s global network and international presence to deliver our titles to even more players.”
About NEXON Co., Ltd. http://company.nexon.co.jp/
NEXON Co., Ltd. (“Nexon”) (3659.TO) is a worldwide leader in free-to-play online games. Founded in Korea in 1994, Nexon developed one of the world's first graphics-based massively multiplayer online games. Nexon also pioneered the concept of microtransactions and the free-to-play business model, setting a new standard in which play is free, and users have the option to purchase in-game items to enhance their experience. Nexon currently services nearly 60 online games in more than 100 countries and since its founding, Nexon has generated more than 1.4 billion player registrations. The Company is headquartered in Tokyo, Japan and its shares are listed on the Tokyo Stock Exchange.
About moonrabbit http://moonrabbit.co
moonrabbit is a mobile development studio based in Seoul, South Korea. Founded in January 2013, it has been providing high-quality games since the launch of Apple’s App Store in 2009. Its most popular titles include Sudoku and Fantasy Runners, both of which gained moonrabbit recognition for their developmental capability and gameplay. SUDOKU, released in October 2009, ranked #1 on the paid apps list of the South Korean App Store. Fantasy Runners, released in February 2012, rose to the #1 position on the paid games list of the Japanese App Store. Fantasy Runners for Kakao, released in July 2013 for the Kakao Game Center, surpassed one million downloads in the first week of launch and ranked #1 on the free game rankings of both Apple’s App Store and Google Play.