April 20, 2024

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[THE INVESTOR] Game giant Nexon said on Nov. 8 that it has made a strategic investment in Stockholm-based game company Embark Studios.

The Swedish game firm was recently established by Patrick Soderlund, former executive of game company Electronic Arts, in a bid to develop games utilizing streaming, cloud and artificial intelligence technologies. 

He was formerly CEO of Swedish game firm DICE, which was acquired by EA in 2006, and held executive roles, including as chief design officer.

The two companies did not unveil the exact amount of investment.

Tokyo-headquartered Nexon said it would try to combine its management capability for live games with Embark Studios’ experienced game development skills. It will be in charge of publishing the latter’s game titles in global markets, and Soderlund will be appointed as a board member of Nexon after approval by shareholders in March.

“The game industry is now standing at a crossroads with the emergence of new technologies, such as AI, cloud computing and new user interface options,” said Nexon CEO Owen Mahoney in a statement.

“Creative contents are crucial to attract new users at this point, and Embark Studios’ creativity will help pave a new path in the game industry,” he added.

Meanwhile, Nexon announced its third-quarter earnings on the same day.

It earned 23.7 billion yen (US$208.44 million), up 4 percent from a year earlier, while its revenue came in at 69.3 billion yen, up 15 percent on-year.
The game firm said its hit titles “Dungeon Fighter” and “MapleStory” were the main drivers for the earnings improvement.

By Kim Young-won (wone0102@heraldcorp.com)