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Nexon Acquires Majority Stake in NDOORS

by Rainier on May 4, 2010 @ 9:41 a.m. PDT

NEXON announced the acquisition of NDOORS Corp. management rights, known for developing titles such as Atlantica, and GoonZu. NEXON will acquire 67% stake of NDOORS including the shares of the former chairman, Seong-Mun Kwon the largest shareholders and has secured management rights as the largest shareholder.

Through the acquisition of NDOORS, NEXON is able to increase the enterprise value and to strengthen its core capabilities by adding the outstanding development efforts of NDOORS.

“NEXON has been carrying out ongoing investment in the companies with outstanding development efforts” said Su-Min, CEO of NEXON. “NDOORS, as well as an excellent development capability with domestic and international publishing capabilities would be a big help to expand NEXON’s portfolio and to carry out a global expansion policy” he added.

NDOORS was first established in 1999 with the accumulated technical and game development experience in the internet and gaming business. The main MMORPG titles are “Atlantica”, “GoonZu”

Atlantica was awarded “Korea Games Award First Prize” in 2008, and being a big cash cow in domestic and overseas sales. In 2009, the consolidate revenue of NDOORS is 40.5 billion won / operating profit is 15.6 billion and its overseas sales portion has accounted for 72% in its entire sales.

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