Newsbrief: Nexon has agreed to sell off one of its subsidiaries, the mobile developer Gloops, GRDrive at the price of ¥1, or less than a single penny when converted to USD, according to documents spotted by MMO Culture.

The company originally acquired Gloops in a ¥36.5 billion (then ~$468 million) deal back in 2012, though the acquisition failed to accelerate Nexon’s mobile business as it had hoped.

The recent ¥1 sale of Gloops follows another, more substantial deal relating to the studio’s properties late last year. The entirety of Gloops’ browser-based mobile game business was transferred to its subsidiary Myloops in October 2019, a subsidiary that was then, as noted in its most recent financial release, sold off to Mynet for ¥500 million (~$4.6 million).