U.S. mobile games studio SGN on Wednesday announced an investment of $130 million from Netmarble Games, the No. 1 mobile games publisher in South Korea.
“Through this major investment from Netmarble, we will use the proceeds for games studio acquisitions, and to accelerate our organic growth,” SGN CEO and cofounder Chris DeWolfe said. “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.”
The investment positions Netmarble as the largest shareholder in SGN, which was started by MySpace cofounders DeWolfe and Aber Whitcomb with former Fox executive Josh Yguado.