Kakao Games is expanding its game portfolio and strengthening its global business by acquiring the casual gaming company Metoon. This marks the first merger and acquisition (M&A) since the establishment of the new co-CEO system, aimed at securing a new genre portfolio and enhancing stable revenue streams for long-term performance improvement.
On the morning of September 15, Kakao Games' board of directors resolved to acquire a 39.56% stake in Metoon for approximately 98 billion won. With this acquisition, Kakao Games will secure management control and become the largest shareholder.
This investment allows Kakao Games to gain new pipelines in social casinos and mind sports, diversifying its portfolio and enhancing its global competitiveness. Additionally, by acquiring Metoon, which has a solid financial structure, Kakao Games aims to establish a stable profit base and seek a mid-to-long-term turnaround.
Founded in 2010, Metoon operates in the global social casino and casual gaming sectors, expanding its business into Asia, North America, and Europe based on its game development and service capabilities. The company was listed on the KOSDAQ in 2016 and recorded annual revenues of approximately 120.9 billion won and an operating profit of about 12.6 billion won last year, with over 80% of its total revenue coming from overseas.
Metoon continues to expand its presence in overseas markets, including North America and Europe, through its subsidiaries Ghost Studio and ACE Interactive Holdings Limited. The company is also diversifying its business into various content areas, including games, dramas, webtoons, and web novels.
This acquisition is the first M&A since the new co-CEO system was established about three months ago. CEO Lee Si-woo was appointed as co-CEO alongside Kim Tae-hwan on June 22. Lee joined Kakao Games in 2015 and has led the overall gaming business, serving as head of the mobile business division and Chief Business Officer (CBO).
Lee Si-woo stated, “This acquisition is the first step in executing an M&A strategy under the new management system, focusing on companies with verified business performance and profitability. We will continue to pursue M&A for the future of Kakao Games and create synergies through the diverse intellectual property (IP) content that Metoon possesses, as well as through joint development with studios in China.”
* This article has been translated by AI.
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