Former CEO of DICE and EA executive Patrick Söderlund’s video game development studio, Embark, has been acquired by Korean video game giant Nexon.
Nexon previously worked with Embark and invested in them with 32.8 percent of the shares, now they own 66.1 percent of Embark's outstanding shares granting them majority.
Owen Mahoney, president and CEO of Nexon, had the following to say: "Patrick Soderlund has been essential in helping drive our vision forward, so it only made sense to bring the companies even closer together."
He continued: "Both our companies know that game development needs an overhaul, and we're both convinced that new technology, methodologies, and perspectives will completely reshape what games can become."
In a post on Medium, Söderlund was happy to share what is happening and that Embark has grown to almost 80 developers.
“Nexon has been with us from the beginning, as our first and only investor and the publisher of our first game. Frankly, we wouldn’t be where we are without them,” Söderlund continued by talking about what they are working on, “The game team has been deep into prototyping over the spring, and we’re beginning to see the early seeds of something unique. The other week we started running weekly (and gloriously buggy) playtests, which means we have begun iterating on our ideas and can start to identify the things that are good and the things that are less good.”