Nexon announced today that it plans to become the majority holder in Embark Studios.
This comes after Nexon became the majority investor in Embark in July. Now Nexon is increasing its stake from 66.1% to 72.8% and will have the option buy Embark’s remaining shares over the next five years.
The South Korea-based Nexon is traded publicly on the Tokyo Stock Exchange. The company focuses on PC multiplayer games like Tera and mobile titles like the strategy-based DomiNations. Embark is based in Stockholm, Sweden. The young studio started in 2018 and is working on its first, named multiplayer project.
Patrick Söderlund is Embark’s founder. He joined the Nexon board of directors after Nexon made its initial investment in Embark in November 2018. Söderlund was previously an executive at Battlefield developer DICE and Electronic Arts. He is also a board member of Nexon and will be taking the helm at Embark as it become’s a focal point of Nexon’s Western game development efforts.
“We are very excited about the value and potential that Nexon’s acquisition of Embark unlocks,” said Owen Mahoney, president and chief executive officer of Nexon, in a press release sent to GamesBeat. “Bringing Embark fully into the Nexon family will tightly integrate Nexon’s expertise in live operations and Embark’s capability of creating hit games that resonate globally to powerfully drive and accelerate delivering players great games designed to live on for years.”