Netmarble's North American Subsidiary 'Jam City' Plans U.S. IPO

[Asia Economy Reporter Kang Nahum] Netmarble's North American subsidiary Jam City announced on the 21st that it plans to merge with the SPAC (Special Purpose Acquisition Company) DPCM (DPCM Capital) and list on the New York Stock Exchange.

Jam City is a global mobile game company that developed titles such as "Cookie Jam," "Harry Potter: Hogwarts Mystery," and "Disney Emoji Blitz." Last year, it was selected as one of the top 10 game publishers in the US on the App Store and Google Play.

Part of the approximately $400 million secured through this merger will be used to acquire the Canadian mobile game developer "Ludia," and the rest will be used for new game development, strengthening exclusive technology, and M&A activities. Ludia is a mobile game company based in Montreal, Canada, developing various genre mobile games based on global IPs such as "Jurassic World: Alive" and "Dragons: Titan Uprising."

Chris DeWolfe, CEO of Jam City, said, "Jam City is continuously expanding by building a world-class mobile entertainment platform. With the funds secured through this merger, we will accelerate growth and present user-friendly games together with Ludia's excellent development team."

Lee Seungwon, CEO of Netmarble, stated, "We expect that Jam City's North American SPAC listing will further strengthen Netmarble's competitiveness in the global game business."

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