Netmarble eyes N. America via Kabam takeover

Netmarble has finalized the acquisition of Kabam Vancouver, the cash-cow branch of the U.S.-based entertainment company, waxing lyrical about its full-fledged plan to expand into the North American market.

The Seoul-based game titan said Friday that it wrapped up an official legal agreement, making the Kabam affiliate a wholly owned subsidiary of Netmarble. The company will also acquire several separate business units of Kabam’s office in Austin, Texas, including work teams dedicated to marketing, customer service and business development.

Netmarble declined to unveil the specific value of the deal, citing contract terms. But market insiders estimate the deal to be worth 870 billion won ($770 million).

The Korean game firm hopes to take advantage of Kabam’s renowned intellectual property (IP) for games such as Marvel and Transformers.

“Marvel: Contest of Champions” has seen mega sales on iOS App Store and Google Play Store, generating more than $500 million in sales since its December 2014 launch.

Netmarble plans to launch a mobile role-playing game (RPG) — “Transformers: Forged to Fight” — within the first half of this year.

This came as part of the firm’s bid to secure more influential IP amid its growing prominence and expanding its existing portfolio. Netmarble holds IP rights for the globally renowned Star Wars franchise.

“We are upbeat over the acquisition, as it will enhance our game IP portfolios, which will speed up our expansion into lucrative Western territories,” a Netmarble spokesman said.

The move is part of its revenue-diversification tactic to reduce its heavy reliance on Asian markets.