ZeroGames, SpaceDiveGames, Reg and Others Become 100% Subsidiaries
Line Games has decided to merge three underperforming development subsidiaries to improve management efficiency.
On the 5th, Line Games announced that it will absorb and merge its subsidiaries Zero Games, Space Dive Games, and Leg. The merger date is set for the 2nd of next month, with the registration scheduled for the 5th.
Line Games owns 100% of the shares (equity) of Zero Games, Space Dive Games, and Leg. These companies are known to be operating with minimal staff as their new development projects have been halted.
Zero Games, which developed titles such as "Chaos Mobile" and "Icarus Eternal," has not released any new titles for several years and began winding down operations with voluntary layoffs starting last year.
Space Dive Games, the developer of "Quantum Knights," stopped game development at the end of last year due to poor user response. Leg disbanded its console development team earlier this year after its console game released last year, "Changsegi-jeon: Hoegyeog-ui Janyeong," performed poorly.
Line Games stated that the purpose of the merger is to "enhance management efficiency."
Additionally, Line Games announced that it sold 294 shares of its U.S. subsidiary LINE NEXT, Inc. to its domestic LINE NEXT corporation for approximately 950 million KRW. The purpose of this disposal is "sale of non-core assets."
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