Kakao Games Acquires Additional Shares of Odin Developer Lionheart Studio

[Asia Economy Reporter Kang Nahum] Kakao Games is making an additional equity investment in game developer Lionheart Studio. Lionheart Studio is the developer of the mobile massively multiplayer online role-playing game (MMORPG) "Odin: Valhalla Rising."

Kakao Games' European subsidiary announced on the 1st that it has signed a contract to acquire approximately 30.37% of Lionheart Studio's shares.

This investment aims to expand global business competitiveness. Kakao Games is proceeding with the global licensing contract for Odin and will be responsible for overseas market services.

Kakao Games first formed a partnership with Lionheart Studio in August 2018. Subsequently, in May 2020, it made an additional strategic investment, and in June of this year, it launched the collaborative project Odin in the domestic market. Odin has held the number one spot in revenue on both Google Play and the Apple App Store in Korea for 17 consecutive weeks, leading this year's biggest hit.

Jo Gye-hyun, CEO of Kakao Games, said, "The two companies will build a close relationship to ensure stable domestic service as well as provide excellent service in the global market, and we will make every effort to achieve this."

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