Korea’s largest mobile game company Netmarble Games said on April 18 it will seek new merger and acquisition opportunities with cash reserves up to 5 trillion won (US$4.40 billion) after its planned initial public offering in May.
“We don’t have any specific plans for M&As at the moment but we will look into game developers and other tech companies that can create business synergies with Netmarble,” CEO Kwon Young-sig said at a press conference held in Seoul.
|Netmarble Games CEO Kwon Young-sig|
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The comments come as the Korean game developer is eyeing a US$2.5 billion stock debut on the benchmark KOSPI on May 12, kicking off a 10-day international roadshow for the IPO.
The IPO price is expected to range between 121,000 won and 157,000 won, according to the firm. The final price will be announced on April 24.
As part of its global expansion push, Netmarble has acquired smaller rivals such as Canada’s Kabam Vancouver, the developer of “Marvel Contest of Champions” titles, in December last year and California-based puzzle game developer SGN, now Joy City, in 2015.
Sources say the buying price for Kabam Vancouver is estimated at about US$800 million.
By Park Ga-young (email@example.com