20 per cent stake bought in Korean company Neowiz, new launches planned.
The deal means EA has claimed 19 per cent of Neowiz stock at a cost of $105 million. It makes EA the second largest shareholder after CEO and founder Sung Kyun Na.
The two firms now intend to co-develop an additional four online games for the Asian market, two of which Neowiz has the rights to publish in Korea ands Japan.
“Our partnership with EA has been a tremendous success in Korea,” said Neowiz CEO Sung Kyun Na. “EA has a rich portfolio of game franchises and we look forward to partnering with them on bringing new titles and in new markets in Asia.”
EA Chairman and CEO Larry Probst added: “We are extremely happy with the expertise Neowiz showed in launching FIFA Online in Korea last year. We think they will be a great partner for bringing other EA franchises to the rapidly growing market for online games in Asia.”
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