Nexon has upped its stake from 32.8 per cent to 66.1 per cent, making it the majority owner on top of being its “sole strategic equity investor”.
Embark was launched last year by former EA chief design officer and DICE CEO Patrick Söderlund, with its headquarters located in Stockholm, Sweden. The studio is working on new interactive experiences and currently employs nearly 80 people.
Once the investment clears, Embark will become a consolidated subsidiary of Nexon, with the company publishing the first title from the studio.
"Embark has been making incredible progress on its projects in a short period of time,” said Nexon CEO and president Owen Mahoney.
“Since joining the board, Patrick Söderlund has been essential in helping drive our vision forward, so it only made sense to bring the companies even closer together.
“Bringing Embark into the Nexon family will be integral to our Western growth strategy, accelerate our ability to share expertise across studios and maximise our expertise of live game operations to create deeply engaging online worlds.”