/// Nexon Buys Gloops for $486 Million in Cash to Push Into Mobile Gaming
Nexon , a Toyko-based games company that raised $1.2 billion the day before Zynga went public, continues using that cash to make acquisitions. Maple Story Today, it has acquired Gloops , a mobile game developer also based in Japan, for $486 million in cash. Gloops, which is known for the titles JapanPro Baseball Card Battle and Warriors of Odin, reported a profit of $38.5 million on revenues of $305 million for the year ended June 30. Nexon, which is known for distributing free-to-play games online, like MapleStory, has experimented with both Facebook and mobile gaming, but this acquisition will help it push into mobile even more. Gloops is currently expanding from Japan into the U.S. and Europe with the release of five titles this year and another five in 2013 through a partnership with DeNA’s social games platform.