[Asia Economy, reporter Koo Eunmo] On August 1, Neptune, a Kakao Games affiliate, announced that it will merge with the ad tech company Adx through absorption. The merger date is set for November 1.
Established in October 2016, Adx has three subsidiaries: mobile game companies Nfly Studio, Codedog, and Encrokey. Nfly Studio's flagship title, "Infinite Stairs," has recorded 10 million downloads in Korea and ranked third in domestic monthly active users (MAU) in the third quarter of 2021, making it a highly popular intellectual property (IP).
Neptune explained that the decision to merge was made to diversify its game lineup and genres, and to enhance corporate value by securing IPs and development capabilities owned by game companies.
Yoo Tae-woong, CEO of Neptune, stated, "We expect this to make a positive contribution to Neptune's financial environment. In addition to strengthening Neptune's game business, this merger establishes a foundation for more stable advancement into new businesses such as metaverse and digital humans."
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