Nexon, the Korean free-to-play multiplayer game company, announced today it has made an investment in 6waves Lolapps and will be taking a seat on the company’s board of directors.
The value of the investment was not disclosed, but it comes less than a week after well-known social gaming company 6waves Lolapps secured $35 million in funding led by Insight Venture Partners. And that influx of funds came a month after the two companies 6waves and Lolapps merged, a move that involved both the Ravenwood franchise and the Filso development engine for Flash-based games.
“Our companies complement each other nicely and we both have different expertise to offer this partnership,” said 6Waves CEO and co-founder Rex Ng. “As a result, the beneficiaries of this relationship will be our players who will receive great content, games and adventures.”
Nexon’s strategic investment appears to be part of a drive to expand the company into the casual game market. Earlier this year Nexon announced its popular MapleStory MMO game, which reports having more than 100 million registered users, would have a Facebook counterpart called MapleStory Adventures.
“We are thrilled to be teaming up with 6waves Lolapps in such a significant way,” said Nexon CEO Seung-woo Choi. “We made this investment because we believe that 6waves Lolapps places the same value that we do in providing exciting games to our players and driving growth for the company by doing so.”
Gamasutra post – http://tinyurl.com/4yvf5o5
VentureBeat post – http://tinyurl.com/3e665s