South Korean games publisher Nexon has sold off its mobile developer subsidiary Gloops for ¥1 (0.009 cents).
As reported by MMO Culture, Nexon has agreed to a deal with Japanese firm GRDRIVE to part with the studio after failing to make a profit on its investment ever since the purchase was made in October 2012 for ¥36.5 billion (roughly $470 million).
It's an interesting move from Nexon after the firm purchased a majority stake in new start-up Embark Studios, followed by founder Jungju Kim's decision to hang onto his controlling share following months of a potential sale for the publisher.
Gloops has developed mostly casual titles across iOS and Android throughout the years, such as block stacker Tofu Tsumi and competitive card adventure Kakodama.
The studio's latest game was an anime match-three puzzler called Ark Resona, which is due to shut down on January 31st, 2020.
One year after the acquisition of Gloops, our contributing editor Jon Jordan questioned the size of the deal as well as the studio's "almost total lack of success outside of Japan".