Kakao Games Acquires XL Games, Developer of 'Dalbitjogaksa'

Acquisition of Approximately 53% Stake in XL Games... Takeover of Management Rights

[Asia Economy Reporter Jin-gyu Lee] Kakao Games announced on the 11th that it has acquired approximately 53% of the shares of game developer XL Games and taken over management control.

With this investment, Kakao Games plans to secure XL Games' proven development capabilities and game intellectual property (IP) to diversify its portfolio and strengthen competitiveness.

XL Games plans to secure sufficient resources for its core strategic titles under development across PC online and mobile platforms and focus more on development.

XL Games, founded in 2003 by game developer Song Jae-kyung, famous for titles such as "Baram-ui Nara" and "Lineage," developed the mobile massively multiplayer online role-playing game (MMORPG) "Dalbitjogaksa" (Moonlight Sculptor).

Kakao Games formed a strategic partnership by investing 10 billion KRW in XL Games in August 2018. In October last year, their first collaborative project, Dalbitjogaksa, was launched in the domestic market, gaining great popularity with over 2.8 million cumulative downloads and ranking high in Google Play sales.

Jo Gye-hyun, CEO of Kakao Games, said, "We will do our best to establish a system that can create synergy with XL Games and provide various content that global users can enjoy."

Song Jae-kyung, CEO of XL Games, stated, "Through collaboration with Kakao Games, which has differentiated competitiveness, we will devote all efforts to developing games that users can relate to and enjoy."

This content was produced with the assistance of AI translation services.