Nexon Buys MMO Developer And Publisher NDoors

Seoul-based MapleStory developer and publisher Nexon Corporation announced its purchase of Korean MMO company NDoors Corp. (Atlantica Online), a deal that will see the firm incorporated into Nexon as a subsidiary. As part of the acquisition, Nexon will pick up a 67 percent stake of Ndoors, including the shares of former chairman Seong-Mun Kwon. The MapleStory publisher believes that buying the company will put it in a position to increase its enterprise value and strengthen its core capabilities by absorbing Ndoors's development teams. Founded in 1999 as Intizen co., Ltd and also based in Seoul, NDoors has licensed several of its MMORPGs cross Europe and Asia. Its U.S. arm, NDoors Interactive, has published three free-to-play MMOs: Atlantica Online, WonderKing Online, and Luminary: Rise of the Goonzu. Neither Nexon or NDoors have disclosed how this acquisition will affect the latter's branches in Japan and the States. In 2009, Ndoors' revenue was ₩40.5 billion ($36.33 million), while its operating profit was ₩15.6 billion ($14 million). Its overseas revenues account for 72 percent of the MMO company's total sales. "Nexon has been carrying out ongoing investment in the companies with outstanding development efforts," says Nexon CEO Su-Min. "Ndoors, as well as an excellent development capability with domestic and international publishing capabilities would be a big help to expand NEXON's portfolio and to carry out a global expansion policy."