Wemade Max Acquires Subsidiary of MIR4 Developer

[Asia Economy Reporter Hyungsoo Park] Wemade Max is incorporating Wemade Next, the developer of the online game ‘Mir4’, as a subsidiary.

On the 26th, Wemade Max held a board meeting and announced that it decided to fully incorporate Wemade Next as a wholly owned subsidiary through a comprehensive stock exchange.

The exchange ratio is 1 to 8.6383784, meaning Wemade Max will receive 8.6383784 shares of Wemade Max stock for each share of Wemade Next.

Wemade Next is the developer of ‘Mir4’, a blockchain game that has gained popularity in over 170 countries worldwide and caused a sensation. This year, it recorded cumulative sales of 29 billion KRW and a net profit of 18.1 billion KRW through the third quarter.

Through the comprehensive stock exchange, Wemade Max aims to strengthen the game development capabilities of the commercially successful ‘Mir4’ and improve management efficiency. Wemade Max declared in September that it would transition into a blockchain game developer and announced that it would apply blockchain technology to all games developed by its affiliates.

CEO Jang Hyun-guk said, "Wemade Max has now become a large-scale M&A platform," adding, "We will pursue good corporate acquisitions and mergers starting with this M&A."