To support its subsidiary studio GR Drive, Nexon has agreed December 24 to sell the subsidiary to GR Drive for ¥1 ($0.01). Back in 2012 Nexon acquired Warriors of Odin developer Gloops for ¥36.5 billion (more than $468 million at the time).
Nexon noted announcing the sale that Gloops was “one of the leading mobile social game developers” when it initially bought it, and its purchase was aimed to boost Nexon’s mobile gaming business.
However, due to the rapidly changing mobile social game environment, keeping up with such changes in game development and operations has continued to be more difficult than initially expected, Nexon noted.
Nexon said “the environment is ready for the generation of high synergy” between Gloops and GR Drive, which has worked as a support studio on visual elements of titles like Fate Grand/Order, Kirby Star Allies, and Daemon X Machina.
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