Nexon Acquires GameHi For $59M

Korean freemium MMO developer Nexon has acquired in rival Korean freemium MMO developer GameHi. Nexon purchased 29.3% of outstanding shares, including management rights, for $59 million for shareholder Gunil Kim.  GameHi generated $33.9 million in revenue in 2009 with operating profits of $9.2 million. The company's most successful games to date are Sudden Attack and Dekaron. 

Nexon hopes to merge its publishing infrastructure with GameHi's game design expertise to consolidate its leadership position in the freemium MMO market. Growth through acquisition is nothing new for Nexon, which acquired its MapleStory title by purchasing developer Wizet and Dungeon Fighter Online by acquiring Neople. 

GameHi was formed in 2000 but achieved prominence in the Korean market with the 2005 release of Sudden Attack. This game topped PC Cafe market share for 106 consecutive weeks and is typically credited with popularizing the MMOFPS genre in Korea. Earlier this month, Nexon acquired Korean MMO developer NDoors. 

Join us for App Conference – October 18-19, 2012 in Santa Clara