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SGN received $130 million from Korea’s Netmarble on Thursday as they hope to expand their reach into the vast Asian gaming marketing.
SGN is the fastest growing US game studio with 170 employees after their launch five years ago. Netmarble will now become the largest shareholder, growing their influence in the Asian market while simultaneously boosting their presence in the West.
“We have successfully become one of the top players in the space,” said cofounder and President Josh Yguado. “With Netmarble’s investment, we think it is a great opportunity to add fuel to the fire.
With over 50 titles thus far, SGN says they have six that they consider “top tier,” including CookieJam, Facebook’s top game of 2014. Yguado believes most of their games will transition well into the Asian market.
“Currently, North America is 55-60% of our revenue and is only 35% of the global gaming marketing, so we feel like there is huge opportunity to diversify our revenue base and generate more revenue from Asia and Europe.”
Netmarble is a dominate player in Korean gaming and has a large presence in Japan, giving SGN distribution and expertise in the biggest Asian markets.
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