In an effort to grown their mobile business in Korea's massive gaming market, Electonic Arts is purchasing the assets of Hands-On Mobile Korea and turning it into EA Mobile Korea.
The Korean mobile developer and publisher is best known for their mobile role-playing game Heroes Lore.
"This acquisition is a major milestone in growing our mobile business in Asia," said Barry Cottle, Senior Vice President and General Manager EA Mobile. "Hands-On Mobile Korea brings us a great leadership team, proven studio talent, and outstanding carrier and OEM handset manufacturer relationships."
While mobile gaming and it's plethora of platforms continues to fail to substantially tap it's mammoth market, it must be heartening for that industry to see a company as large as EA show such interest.
Deal Will Strengthen the Presence of EA Mobile in Asia and Expand its Development and Publishing Teams as the Global Mobile Leader
Seoul, Korea/Redwood City, CA, – Electronic Arts Inc. (NASDAQ: ERTS) today announced that it had agreed to acquire the assets of Hands-On Mobile Korea, a leading Korean mobile developer and publisher, best known for its mobile role-playing game, Heroes Lore. Upon completion of the acquisition, the former Hands-On Mobile Korea team will become EA Mobile Korea and will play a strategic role in the EA Mobile™ Asia development and publishing growth plans. The acquisition is subject to customary closing conditions and is expected to be completed by the end of this fiscal quarter. Hands-On Mobile Korea is a subsidiary of parent company Hands-On Mobile™, based in the United States.
"This acquisition is a major milestone in growing our mobile business in Asia," said Barry Cottle, Senior Vice President and General Manager EA Mobile. "Hands-On Mobile Korea brings us a great leadership team, proven studio talent, and outstanding carrier and OEM handset manufacturer relationships."
"We are excited about joining EA Mobile and its mission to bring to market some of the world's most innovative, cutting-edge and commercially proven mobile games and applications," said Gilbert Kim, CEO of Hands-On Mobile Korea, who will become head of EA Mobile, Korea Division. "Korea is one of the most ubiquitous entertainment markets in the world, and we look forward to continually pushing the edge with our partners here to enrich the mobile user experience across all aspects of daily life."
Following completion of the acquisition, Hands-On Mobile Korea will continue to be managed by Gilbert Kim as head of the EA Mobile, Korea division. The studio will remain in Korea with growth planned for both the development and publishing teams, and will work within the management structure of the EA Mobile Asia Publishing organization.
Financial terms of the acquisition were not disclosed. EA does not expect the acquisition to impact the company's fiscal year 2009 financial guidance.