SGN bags $130 million Netmarble investment to break into East

Date Type Companies involved Size
July 23rd, 2015 Jam City
Not disclosed
SGN bags $130 million Netmarble investment to break into East

Korean publisher Netmarble Games has announced a $130 million cash injection to US mobile game publisher SGN (Social Gaming Network).

The investment makes Netmarble SGN’s largest shareholder, giving the publisher a stake in SGN’s games portfolio that includes Cookie Jam and Panda Pop.

Put more cookies in the jar

Established in 2010 by MySpace co-founders DeWolfe and Aber Whitcomb, as well as former Fox Executive Josh Yguado, SGN will now use the cash to acquire other games studios and build “a major presence in the lucrative Asian market.”

Netmarble, meanwhile, clearly expects the deal to scratch its own back in the Western market.

“SGN is a rapidly growing company with proven experience in developing and servicing top grossing casual games in the West," said Youngsig Kwon, the CEO of Netmarble Games.

"With SGN's many years of experience in global marketing, I am confident that SGN will make a perfect partner for Netmarble to enter the Western market."

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