Under the terms of the agreement, Nexon will make a cash equity investment in Rumble in exchange for a minority stake in the company. Financial details related to the investment were not disclosed. In conjunction with the investment, Owen Mahoney, Chief Financial Officer and Chief Administrative Officer of Nexon, will join the Rumble Board of Directors.
Founded in 2011, Rumble develops premium free-to-play games that are instantly accessible and playable across a variety of devices and social networks, all while offering the deep engagement of console games. Announced titles include KingsRoad, a medieval action role-playing game; Ballistic, a 3-D first-person shooter; and Nightmare Guardians, a multiplayer tower defense game.
“As gaming platforms continue to converge, it is clear that immersive, synchronous free-to-play games are the future of the video game industry,” said Mr. Mahoney. “Rumble is one of the few Western companies at the forefront of this trend, and they share our conviction about the compelling combination of the free-to-play business model with deeply immersive gameplay across platforms. The North American market remains a massive, largely untapped opportunity and we are excited to work with Rumble’s best-in-class team to grow our business in the West.”
Rumble is led by an all-star group of industry veterans with deep social gaming and publishing expertise spanning the gaming world, from critically-acclaimed MMOs and console games to hit social and mobile titles. The team includes developers, executives and product leaders previously with Zynga, Activision, BioWare, Blizzard, Playdom, Electronic Arts, Turbine, LucasArts and RockYou.
“Nexon is a pioneer of the free-to-play model over 15 years ago, and we couldn’t ask for a better partner as we seek to create the world’s best free-to-play games,” said Greg Richardson, Founder and CEO of Rumble Entertainment. “This partnership will enable us to leverage Nexon’s deep free-to-play expertise and global market presence, including the important Asian territories. We look forward to working with Nexon to continue our mission of redefining the games experience on digital platforms.”