Korean game publisher Smilegate buys US$112 million stake in Sundaytoz
One of Korea’s largest game publishers now owns 20 per cent of the game developer’s stock, and is set to push its games line-up globallyBy Jonathan Toyad 28 Mar, 2014
Newsreaders who keep track of Korea’s gaming scene should know Smilegate, the bigwig game publisher known for creating the online first person shooter title CrossFire that’s renowned all across Asia. The company recently came across a possible goldmine: developer SundayToz’s mobile puzzle title Anipang 2.
As a result, the publisher will not only push Anipang 2 to global status, it also has announced a US$112 million buyout of the developer’s stock (via Betech.Asia). The publisher now owns 20 per cent of Sundaytoz’s stock.
The main reason for this investment decision is to push out Sundaytoz’s casual mobile games line-up on a worldwide scale using its global networks and connections. This is the first time Smilegate is showing interest in games outside its development stable. For the past few years, the publisher was focused on pushing Crossfire to mainstream relevance. Its revenue was over US$1 billion between 2012 and 2013.
Beyond maintaining the online services of the FPS Crossfire, Smilegate is currently developing an Asian fantasy-themed MMO called Project R, a multiplayer online battle arena game called Project PK that features characters from the Marvel Comics universe, and an online action RPG called Project T that’s powered by the Unreal 3 engine.
IOS iOS is Apple's operating system for their mobile devices. Latest funding: Not specified Investors: Not specified