informa
/
1 MIN READ
News

Ragnarok Online Publisher Gungho Buys Game Arts

Japanese-headquartered online game publisher (Ragnarok Online) and developer Gungho, which rec...
Japanese-headquartered online game publisher (Ragnarok Online) and developer Gungho, which recently announced that its parent Softbank-affiliated company had acquired Ragnarok Online developer Gravity Corp, has made another significant developer acquisition. This time, Gungho itself has announced that it is buying a majority share of Japanese Grandia developer Game Arts' stock from Yoichi Miyaji, president and representative director of the company. Game Arts was founded in 1985, and, as noted above, it is principally known for its Grandia RPG series, which has sold more than 2 million units worldwide, and which has recently been published by RPG giant Square Enix. Gungho had already signed an agreement with Game Arts to develop a Grandia Online MMORPG for the PC, and with Gungho's other major MMO title Ragnarok Online already a leading Japanese MMO contender, Gungho was clearly keen to assume full control over Grandia Online to attempt to shepherd it to similar success. Game Arts' acquisition will conclude on October 27, according to Gungho, and the company cites industry expansion into online and mobile gaming as the primary reasons for the acquisition. Before the acquisition, Yoichi Miyaji had 35.2% of Game Arts' shares, Gungho had 11.93%, as did Connect Technology, and Square Enix had 11.46% of the developer's shares.

Latest Jobs

Cryptic Studios

Remote
1.19.23
Senior Producer

Night School Studio

Los Angeles, CA, USA
1.09.23
Level Designer / Scripter, Games Studio

Fast Travel Games

Hybrid (Stockholm, Sweden)
1.09.23
Social Media / Community Manager
More Jobs   

CONNECT WITH US

Explore the
Subscribe to
Follow us

Game Developer Job Board

Game Developer Newsletter

@gamedevdotcom

Explore the

Game Developer Job Board

Browse open positions across the game industry or recruit new talent for your studio

Browse
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more