Gamigo buys 20% stake in Korean developer OnsOn Soft

Thu 10 Nov 2011 8:21am GMT / 3:21am EST / 12:21am PST
Business Online

German publisher buys into Fiesta Online developer

Gamigo AG

gamigo AG, based in Hamburg and New York City, is one of the leading western publishers of Free-to-Play...

www.gamigo.com

German publisher Gamigo has bought a 20.1 per cent stake in Korean free-to-play developer OnsOn Soft.

The Seoul-based studio, formed in 2004, employs over 60 members of staff and created MMORPG Fiesta Online, already published by Gamigo.

"We've had a close business relationship with OnsOn Soft for years; this step will cement that further," commented Patrick Streppel, one of Gamigo's board members.

"With this strategic investment we are securing the future of Fiesta Online in Europe and will be able to make other projects a reality with their team."

With the deal Gamigo also ties up the European and US publishing rights for OnsOn Soft's next game, to be announced at a later date.

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Matt Martin
Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.