Last month we reported that Nexon took over a significant portion of the stake in Embark Studios for $ 96 million. In other words, the controversial figure Patrick Söderlund, who is a member of the board of Nexon, will soon see his company become a consolidated subsidiary of Nexon Group. According to two new reports, Nexon can acquire all shares of Embark Studios in one day.
You know who Patrick Söderlund is? If not, he was Electronic Arts CFO and he left the company mid-2018 after becoming gamers during the Battlefield V inclusion of women.
Now that you have an idea of Söderlund, on August 5, 2019, websites gamesindustry.biz and videogameschronicle.com have announced that Nexon will fully acquire shares in Embark Studios and that Nexon’s western development strategy will be driven by Söderlund’s new company.
The former publication site writes that Nexon will have the option to purchase all remaining shares over the next five years. You can read the following quote here:
“Nexon has further increased its stake in Embark Studios, and it will now have the option to purchase all remaining shares in the next five years.”
The second website writes:
“Korean online gaming company Nexon has announced that it will increase its stake in Embark Studios from 66.1% to 72.8%, with an option to purchase the remaining shares of the Swedish company through Nexon shares over a five-year period “
Personally, I don’t understand why Nexon swallows shares in a company that hasn’t released its first game, let alone a gameplay or teaser trailer for its first IP?
Website games Industry expresses shock in the bullish and quick actions of Nexon to get so many shares in Embark Studios by noting:
“The acquisition is remarkable because of its speed. Embark was only unveiled by founder and former EA director Patrick Söderlund in November 2018. “
Last month, Söderlund claims that the increased investments and support from Nexon will prevent them from going bankrupt, I mean … so that they can “move a little faster and concentrate even harder” on their long-term mission.
The team that was once 50 and is now approaching 80 employees is still developing the unnamed free-to-play cooperative action title. As it looks now, time will tell what Nexon and Embark Studios will release.