Kakao Games has agreed to acquire a stake in Me2on, a South Korean mobile studio
The acquisition will cost Kakao Games 98 billion won or 71.5 million dollars.
Solitaire Farm Adventure
The company announced that in total, it plans to acquire 39.56% of Me2on. Consequently, after the deal, the entire studio's value will be estimated at approximately 247.7 billion won (181.2 million dollars). The board of directors has already approved the acquisition, and if nothing changes, it will take place on November 16.
Upon completion of the deal, Kakao Games will gain managerial control over Me2on and become its largest shareholder.
Me2on was founded in 2010 and specializes in casual mobile games, as well as titles in the social casino genre. Specifically, they are known for projects such as Cooking Tour, Match Miracle 3D, Slots — Classic Vegas Casino, and Solitaire Farm Adventure.
Last year, Me2on generated a total of 120.9 billion won (88.2 million dollars), with more than 80% of the revenue coming from outside South Korea. Meanwhile, Kakao Games earns predominantly domestically, with only 20% of its revenue coming from other countries. Thus, the deal should help the company strengthen its position in the international market.