NCsoft Acquires Majority Stake in Singapore Mobile Publisher Indygo
▼ Summary
– NCsoft has invested $103.8 million for a 67% stake in Singapore’s Indygo Group, which includes full ownership of the Vietnam-based casual games maker Lihuhu.
– The company is also acquiring the casual mobile games studio Springcomes, which projects revenue of $18.9 million for 2025.
– NCsoft is actively in discussions to acquire European studios as part of its strategic expansion into the casual mobile game market.
– This investment and acquisition strategy supports NCsoft’s new Mobile Casual Center, aimed at establishing a growth foothold in the global casual game sector.
– The company has additionally secured a perpetual license for analytics software and purchased an unnamed Slovenian studio to support its technical platform for casual games.
In a strategic move to solidify its position in the global casual gaming market, Korean gaming powerhouse NCsoft has secured a controlling majority stake in Singapore’s Indygo Group. The substantial investment, valued at $103.8 million, grants NCsoft a 67% ownership share. This acquisition is a cornerstone of the company’s broader expansion strategy, which includes bringing Vietnam-based casual game developer Lihuhu, fully owned by Indygo, into its corporate portfolio.
The company’s aggressive push doesn’t stop there. NCsoft has also finalized the purchase of the casual mobile games studio Springcomes. While the financial terms for this particular deal remain undisclosed, the developer’s projected revenue for 2025 is a notable KRW 28 billion, or approximately $18.9 million, representing a year-on-year increase of more than double. Furthermore, NCsoft is actively engaged in discussions to acquire several game studios based in Europe, signaling a truly global ambition.
This flurry of activity is a direct result of NCsoft’s deliberate strategic pivot toward the casual mobile genre. The initiative gained formal structure last August with the establishment of a dedicated Mobile Casual Center, led by industry veteran Anel Ceman, whose experience includes prominent roles at Tripledot and Outfit7. To bolster this effort, the company has also recruited user acquisition and data specialist Anthony Pascale, formerly of Miniclip, to its team.
NCsoft co-CEO Park Byung-moo emphasized the strategic importance of the Lihuhu acquisition, stating it establishes a critical growth foothold in the worldwide mobile casual game sector. He expressed expectations for the Vietnamese studio to operate as a central hub for casual game development across Asia. Park also confirmed the ongoing European studio talks, noting that alongside mergers and acquisitions, NCsoft is pursuing various business collaborations with international game studios to accelerate its casual game business expansion.
Anel Ceman echoed this sentiment in a recent LinkedIn post, highlighting Vietnam’s rising prominence in mobile casual development due to its strong talent pool, rapid iteration capabilities, and proven expertise in launching and scaling games. He framed the acquisition as merely the starting point for NCsoft’s mobile casual growth, underscoring the company’s serious commitment to building a significant presence in the region. Ceman concluded by predicting that 2026 will be a particularly dynamic year for both hybrid and casual gaming formats.
To support this expansive vision from a technical standpoint, NCsoft has taken additional steps. The company has procured a perpetual license for a sophisticated codebase software platform from a European firm specializing in analytics and live operations. To ensure this platform possessed the necessary technical potential and expertise, NCsoft also acquired an unnamed mobile casual games studio based in Slovenia, integrating its development capabilities directly into the company’s operations.
(Source: Games Industry)