Nexon acquires GameHi Inc.
Nexon acquires 29.30 percent shares, which includes Management Rights, of GameHi for 73.2 billion won
GameHi records revenues of 41.5 billion won and Operating profits of 11.9 billion won as of the end of 2009.
Nexon Inc., (CEO Min Seo, ShinChul Kang) announced on the yesterday that Nexon has acquired the management rights to GameHi Inc., (CEO WoonSang Jung), a development company famous for Sudden Attack, and Dekaron.
Nexon acquired 29.30 percent of the shares, which includes management rights of GameHi from GunIl Kim, the largest shareholder, for 73.2 billion won. Through this acquisition, Nexon will be able to merge its online game publishing know-how and infrastructure with the expert game development capabilities of GameHi to create greater value for the company and increase Nexons influence as the global leader in the game industry.
Min Seo of Nexon said, GameHi has proved its ability to create high quality online games through Sudden Attack, Dekaron, etc. and that as was seen before in the cases of MapleStory and Wizet as well as Dungeon Fighter Online and Neople, the acquisition of GameHi by Nexon will create the greatest synergy between both companies.
GameHi is an online game development and service company founded in 2000 and is famous for games such as Sudden Attack, Dekaron and Metal Rage. Sudden Attack, after opening official service in August of 2005, has reached 250,000 concurrent users, been number one in PC Café market shares for 106 continual weeks, and is regarded as the game that popularized first person shooters in Korea. In 2009, GameHi recorded a total revenue of 41.5 billion won and operating profits of 11.9 billion won.