Joymax Acquires IO Entertainment

Korean MMO developer Joymax has acquired rival developer IO Entertainment, creator of MMOs including Lost Saga and Survival Project. This acquisition comes roughly a month after Joymax’s merger with WeMade, creator of the Legend of Mir MMO series. IO Entertainment was founded in 2001 and specializes in games with action-oriented gameplay. IO’s Lost Saga is currently available in Korea, Taiwan, and North America and will launch in Thailand, Indonesia, Japan, and multiple European regions in the future.

Lost Saga is currently IO Entertainment’s flagship product, driving a 200% growth in sales and a 150% increase in peak concurrency over the last year. IO Entertainment launched Lost Saga in February 2009. Joymax expects the acquisition of IO Entertainment to drive significant growth in total revenue and users in 2011, owing largely to the popularity of Lost Saga. Joymax’s global platform will service Lost Saga and all other IO Entertainment games in the future. Joymax is best-known internationally as the developer of the MMORPG Silk Road Online.

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