New Transformers game to debut in 2Q of 2017 as MARVEL Contest of Champions continues its Top 10 streak
Netmarble to include Customer Support and other teams in acquisition
SAN FRANCISCO & SEOUL, South Korea–(BUSINESS WIRE)–Netmarble Games Corp., the fastest-growing mobile game company in Asia, and Kabam, a world leader in massively multiplayer free-to-play games for mobile devices, today announced that the two sides have entered into an agreement under which Netmarble will acquire Kabam’s Vancouver studio. The deal is expected to close during the first quarter of 2017.
Kabam’s Vancouver unit is one of the most successful and valuable mobile gaming studios within the industry, as the studio is responsible for the globally popular MARVEL Contest of Champions. The game has grossed over $450 million since launching in December 2014, has more than 90 million installs, and continues to perform on the App Store’s top grossing charts, consistently ranking within the Top 10.
The studio expects to launch the highly anticipated TRANSFORMERS: Forged to Fight worldwide in the second quarter of 2017. Transformers is well known for its popularity in comics, animation, movies and toys over the years to fans globally.
In addition to Kabam Vancouver, Netmarble will also acquire the Customer Support teams based in Kabam’s Austin office and parts of the Business Development, Marketing and User Acquisition teams from Kabam San Francisco. This will allow Netmarble to ensure players globally experience no interruptions in operations and support.
“We are thrilled to acquire Kabam’s Vancouver studio, which has proven itself as one of the best in game development, and business competitiveness in the western market including the U.S.,” said Seungwon Lee, Chief Global Officer of Netmarble Games. “We look forward to strengthening Netmarble’s business in the western market including the U.S. through this deal.”
“The Vancouver Studio is joining a premier organization that will continue its legacy of creativity and propel it to the next generation of game development,” said Kevin Chou, CEO and Co-Founder of Kabam. “We’re extremely proud of the work we accomplished with the Vancouver Studio, and we know the team will continue their world-class work with Netmarble. No doubt they will continue to create amazing games for a global audience.”
BofA Merrill Lynch is acting as financial advisor and O’Melveny & Myers, LLP is acting as legal advisor to Kabam, Inc. Ropes & Gray LLP is acting as legal advisor to Netmarble Games Corp.