Kakao Games Acquires Casual Game Developer Me 2 On for KRW 98 Billion

[Financial News] Kakao Games is acquiring global casual game developer Me 2 On. The move is seen as an effort to diversify its portfolio and accelerate its global expansion by leveraging a company specializing in social casino and blockchain-based games.
On the 15th, Kakao Games purchased 16,828,508 shares of Me 2 On for approximately KRW 98 billion. Once the acquisition is completed, Kakao Games will become Me 2 On’s largest shareholder with a 39.56% stake, securing management control. The scheduled acquisition date is November 16.
Through the acquisition, Kakao Games plans to strengthen the competitiveness of its core gaming business. Founded in 2010, Me 2 On focuses primarily on global social casino and casual games.
By acquiring Me 2 On, Kakao Games plans to expand its game genres and accelerate its entry into global markets. It also aims to create business synergies by leveraging Me 2 On’s diversified businesses, including dramas and webtoons, and expanding the scope of its intellectual property (IP) utilization.
Me 2 On’s solid financial structure is also cited as a factor behind the acquisition. Last year, Me 2 On recorded KRW 120.9 billion in annual revenue and KRW 12.6 billion in operating profit.
[email protected] Jang Min-kwon Reporter