Kakao Games Corp. Acquires Casual Game Developer Me2on Co., Ltd… First M&A Under New Management Structure
Operators of social casinos, casual games, and mind sports
Acquisition of Equity Interests and Management Control, Diversification of Global Portfolio
First M&A Case Since the Restructuring of the New Management System
[Edaily Reporter An Yu-ri ] Kakao Games Corp.(293490)has selected casual game developer Me2on Co., Ltd(201490)as the target of its first M&A (merger and acquisition) deal since Line Yahoo became its new owner.
On the morning of the 15th, Kakao Games Corp.’s board of directors resolved to acquire a 39.56% stake in Me2on Co., Ltd for approximately 98 billion won. With this move, Kakao Games Corp. will secure management control of Me2on Co., Ltd and become its largest shareholder.
Through this investment, Kakao Games Corp. will secure a new pipeline of social casino, casual games, and mind sports titles, diversifying its portfolio and strengthening its global competitiveness. Additionally, by acquiring Me2on Co., Ltd—which boasts a solid financial structure—the company plans to secure a stable profit base and pursue a medium- to long-term turnaround.
Me2on Co., Ltd, a global gaming company founded in 2010, operates global social casino and casual game businesses. Leveraging its capabilities in game development and service operations, it has expanded its business reach to Asia, North America, and Europe. The company went public on KOSDAQ in 2016 and achieved annual revenue of approximately 120.9 billion won and operating profit of approximately 12.6 billion won last year. Overseas revenue accounts for over 80% of its total revenue.
Through its subsidiaries, including GHOST STUDIO and ACE Interactive Holdings Limited, the company is continuously expanding into overseas markets such as North America and Europe, while also pursuing business diversification across a wide range of content, including games, TV dramas, webtoons, and web novels.
Lee Si-woo, CEO of Kakao Games Corp., stated, “This acquisition marks the first step in executing a merger and acquisition strategy—one that has been proven to deliver business results and profitability—under our new management structure, and we will continue to pursue M&A for the future of Kakao Games Corp.” He added, “We will create synergies in various ways, not only by expanding into the diverse IP content areas held by Me2on Co., Ltd. but also through joint development with studios in China.”
Son Chang-wook, CEO of Me2on Co., Ltd, said, “We are pleased to become a strategic partner with Kakao Games Corp., which possesses domestic and international service capabilities and experience,” adding, “Through close cooperation with Kakao Games Corp., we will lead the K-content business in the global market.”
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