South Korean gaming giant Nexon Co. announced Monday it will raise its holding in Stockholm-based Embark Studios to 72.8 percent from current 66.1 percent with an aim to wholly own the company within the next five years.

With the acquisition, Nexon aims to up its investment in gaming labels targeting the global market to raise its brand awareness in cooperation with Patrick Söderlund, founder of Embark Studios and a board member of Nexon, according to the company.

“We are very excited about the value and potential that Nexon’s acquisition of Embark unlocks,” said Owen Mahoney, president and CEO of Nexon. “Bringing Embark fully into the Nexon family will tightly integrate Nexon`s expertise in live operations and Embark`s capability of creating hit games that resonate globally… and we’re confident about the future of Nexon’s game development and business in western markets, especially with Embark in the family, and central to our strategy.”

Embark Studios also vowed commitment to bringing online game experiences that are “successful on a global scale, especially outside Nexon’s core Asian markets,” according to Söderlund.

Embark Studios is a Stockholm-based online game developer founded last year by Patrick Söderlund, former chief design officer of Electronic Arts and chief executive officer of DICE, famous for the first-person shooter video game series Battlefield.

Nexon made a major strategic investment in Embark Studios first in November last year and then expanded the scale last month. It also appointed the notable game industry veteran Söderlund to its board member at the March shareholders’ meeting.

Nexon renewed global outreach after its founder and CEO last month gave up the plan to sell the top gaming company.

By Oh Dae-seok and Lee Ha-yeon

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