NCsoft has acquired a majority stake in the Singapore-based mobile game publisher Indygo

Image credit: NCsoft

NCsoft, a leading gaming company from South Korea, has invested significantly in a Singapore-based mobile game publisher, Indygo Group. The transaction is valued at $103.8 million, resulting in NCsoft owning 67% of the company. This acquisition also includes Lihuhu, a casual game developer from Vietnam, solely owned by Indygo.

Additionally, NCsoft is acquiring Springcomes, a mobile games studio, though the financial specifics of this deal are not disclosed. The studio is expected to reach revenue of KRW 28 billion ($18.9 million) in 2025, which would more than double its growth from the previous year.

The South Korean giant is exploring additional acquisitions in Europe. These moves are part of its strategic shift towards casual mobile games, highlighted by the establishment of its Mobile Casual Center in August 2025. This initiative is led by Anel Ceman, an experienced professional with backgrounds at Tripledot and Outfit7. The firm has also onboarded Anthony Pascale, a specialist in user acquisition and data analytics, who previously worked with Miniclip.

Park Byung-moo, co-CEO of NCsoft, stated that acquiring Lihuhu marks a strategic advancement in the global market for mobile casual games. The plan is for Lihuhu to become a central player in developing casual games across Asia. Discussions are ongoing with several European studios regarding possible acquisitions and collaborations to bolster their casual games division.

Anel Ceman shared on LinkedIn that Vietnam is experiencing significant growth in mobile casual games due to its talent pool and efficient production cycles. This acquisition marks a significant step in NC's broader strategy for expanding in this sector. He anticipated that 2026 would be pivotal for both hybrid and casual game segments.

Furthermore, NCsoft has secured a perpetual license for codebase software from a European analytics and liveops specialist. As part of its expansion strategy, the company has also acquired an undisclosed Slovenian mobile casual games studio to ensure they possess the necessary technological capabilities.