The announcement was made today at the E3 Media and Business Summit taking place in Santa Monica, California.

Although company officials did not divulge any details regarding the names or types of games in development, NCsoft officials did say the games would be created from both existing intellectual properties (IP) owned by NCsoft, as well as new IP.

"This is a great step forward for online gaming," said Geoff Heath, CEO of NCsoft Europe. "We are delighted to be working with Sony Computer Entertainment. PS3, with its advanced Cell Broadband Engine™ and standard hard disc drive on every unit, has already demonstrated it is a truly versatile online platform that gives NCsoft the potential to create massively multiplayer environments. Together with the Internet-enabled PSP, we're confident that SCEI and NCsoft can develop unique and compelling online experiences that will be found on no other platform."

NCsoft is known for its highly successful online game products such as the Guild Wars and City of Heroes brands and its flagship product Lineage , which has a customer reach of more than 70 million worldwide.

"NCsoft has established itself as one of the preeminent developers in the online space," said Riley Russell, vice president of third party and developer support, Sony Computer Entertainment America. "Their track record of creating successful online games is exactly what we are looking for as we grow the PlayStation Network, delivering new, rich experiences on both PS3 and PSP. SCEI's hardware leadership matched with NCsoft's extensive online experience are the hallmarks of what is sure to be a fruitful relationship for both companies, ultimately benefiting our core audience — the gamer."