Netmarble Games to Invest $130 Million in SGN, the Fastest Growing Major U.S. Mobile Games Studio
Korean Gaming Giant Becomes SGN's Largest Shareholder to Turbo Charge the Studio's Growth
LOS ANGELES, July 23, 2015 /PRNewswire/ -- SGN, the fastest growing major U.S. mobile games studio, announced today an investment of $130 million from Netmarble Games, the number one mobile games publisher in South Korea. With this investment, Netmarble will become the largest shareholder in SGN. In this strategic partnership, SGN looks to grow their share in Asia, the biggest mobile games market in the world, while Netmarble will use SGN's expertise to expand their presence in the West. Both companies will maintain their independence, but will work closely to share their creative and technological knowledge.
"Through this major investment from Netmarble, we will use the proceeds for games studio acquisitions, and to accelerate our organic growth," said Chris DeWolfe, co-founder/CEO of SGN. "Global market share is a top initiative for SGN and Netmarble is the perfect strategic partner to help us establish a major presence in the lucrative Asian markets."
"SGN is a rapidly growing company with proven experience in developing and servicing top grossing casual games in the West," said Youngsig Kwon, the CEO of Netmarble Games. "With SGN's many years of experience in global marketing, I am confident that SGN will make a perfect partner for Netmarble to enter the Western market."
Seungwon Lee, the President, Overseas for Netmarble Games added, "Through this synergistic partnership, Netmarble and SGN will collaborate and expand their publishing footprints globally. SGN has demonstrated their strength in developing original game IP (Intellectual Property) as well as licensed IP partnerships."
Founded by MySpace Co-Founders Chris DeWolfe and Aber Whitcomb, and former Fox executive Josh Yguado, SGN's seasoned executive team has established the company as a leader in the mobile gaming industry. The studio's catalogue of popular titles includes Panda Pop, Book of Life: Sugar Smash, the newly released Juice Jam, and Facebook's Game of the Year 2014, Cookie Jam. SGN is the fastest growing major U.S. mobile games studio. SGN's games have been downloaded over 500 million times, and consistently land in the top grossing charts in multiple countries around the world. As the fastest growing sector of the entertainment industry, mobile games are projected to make $30 billion in 2015.
ABOUT NETMARBLE GAMES
Netmarble Games Corp. strives to enrich people's lives by providing great games to global audiences. Based in Seoul, Korea Netmarble Games Corp. has produced some of the most successful mobile games such as Marvel Future Fight, Seven Knights, Monster Taming, Raven, Everyone's Marble, and the Magu Magu Series. The company has more than 2,500 employees worldwide, numerous studios and consistently ranks as a top developer and publisher in Asia and globally. Netmarble Games Corp. has a strategic partnership with CJ E&M Corporation, Asia's largest entertainment company, Tencent Holdings, Asia's largest internet company, and NCsoft, a prominent MMO company, as company shareholders. More information can be found at www.netmarble.com
ABOUT SGN
SGN is a leading cross-platform mobile games studio, delivering highly entertaining and engaging titles to millions of users around the world on Facebook, iOS, Android and Amazon. Founded by MySpace Co-Founders Chris DeWolfe and Aber Whitcomb, and former Fox executive Josh Yguado, SGN's strong executive team with stellar programming and creative talent has established the company as a leader in the mobile gaming industry. SGN's acquisitions include Mindjolt, SGN, and Mob Science. SGN's proprietary MasterKey technology deploys games seamlessly across multiple platforms, allowing players to interact with friends regardless of the device or site they prefer. SGN operates with a global presence with offices in Los Angeles, San Francisco, San Diego, Palo Alto and Buenos Aires. For more information about SGN, please visit www.sgn.com
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