Cloud storage player Box’s IPO on the New York Stock Exchange yesterday was a roaring success with shares closing the day at US$23.23, up 66pc, giving the company a market value of US$2.7bn.
Dublin: 25.01.2015 08.19PM
Online games company Gala Networks, which operates the online multiplayer (MMO) network gPotato with subsidiaries in Ireland and Brazil, has been acquired by Korean MMO giant Webzen for an estimated US$17.5m (19bn won). Gala employs just over 100 people in Dublin.
The European subsidiary of Gala Networks was founded in Ireland in 2006 where it hosts games like Allods Online, Rappelz, Flyff and SevenCore, which are played worldwide by 23m registered users.
Under the deal, Webzen will take control of Gala-Net Inc and its subsidiaries, as well as the gPotato portals.
Korea-based Webzen is considered a leader in the MMO video-game market, with more than 65m people playing games like Archlord and Ultimate Nation.
Both companies have signed a share purchase agreement with a transaction settlement date of 15 February.
“During this period and afterwards, we will develop strategies and come up with decisions on the continuation and future of our and Webzen’s brands for the European, North and South American markets,” Nicolas Pajot, CEO Gala Networks Europe, explained.