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Nexon Acquires Embark Studios

by Rainier on July 1, 2019 @ 3:50 a.m. PDT

Nexon announced that it will increase its investment in Embark Studios, the Stockholm-based game development studio founded by former DICE CEO Patrick Söderlund.

Following the strategic investment into Embark Studios in November 2018, Nexon will now acquire an additional 32.8% of the outstanding shares of the studio, increasing its total shares to 66.1%. Embark will become a consolidated subsidiary of Nexon Group, strengthening Nexon’s portfolio of games in the Western online market.

Embark founder Patrick Söderlund, who joined the Board of Directors after Nexon’s initial investment into the studio, will remain on the Board.

Embark Studios is a Stockholm-based game development studio founded by industry leader Patrick Söderlund to create new types of interactive entertainment and simulated virtual online worlds enabled by massive leaps in technology. Embark will bring Nexon one of the world’s most successful game development teams comprised of talent responsible for globally successful franchises. Nexon’s expertise in making online games that thrive for many years will super-charge Embark’s projects.

“Embark has been making incredible progress on its projects in a short period of time, and since joining the board, Patrick Söderlund has been essential in helping drive our vision forward, so it only made sense to bring the companies even closer together,” said Owen Mahoney, President and CEO, Nexon. “Bringing Embark into the Nexon family will be integral to our Western growth strategy, accelerate our ability to share expertise across studios and maximize our expertise of live game operations to create deeply engaging online worlds.”

“Having joined Nexon’s board earlier this year, I'm particularly impressed by their patient attitude to game development and the decade-long relationships that Nexon’s games have maintained with millions of players,” said Patrick Söderlund, Embark’s CEO and founder. “We have a fundamentally similar world-view. Both our companies know that game development needs an overhaul, and we’re both convinced that new technology, methodologies, and perspectives will completely reshape what games can become.”

Embark is a technology driven studio on a path to create the next-generation of living online worlds. In addition, the studio is currently developing its first multiplayer game building on their proven experience creating beloved global franchises.

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