Swedish game development studio Embark Studios is being acquired by Nexon. The company was founded in 2018 by DICE founder Patrick Söderlund.
This arrangement will lead to Nexon increasing its company stake from 66.1% to 72.8%. They will continue to collect shares over the next five years.The arrangement announced today sees Nexon increasing its stake in the company from 66.1 percent to 72.8 percent, and allows the company to fully acquire any remaining shares over the next five years.
“We are very excited about the value and potential that Nexon’s acquisition of Embark unlocks,” said Owen Mahoney, president and chief executive officer of Nexon, in a press release sent to GamesBeat. “Bringing Embark fully into the Nexon family will tightly integrate Nexon’s expertise in live operations and Embark’s capability of creating hit games that resonate globally to powerfully drive and accelerate delivering players great games designed to live on for years.”
Embark doesn't appear to have any games at the moment, but they have provided tutorial projects via Medium.
You can see the whole article here via VentureBeat.