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EA buys stake in FIFA Online specialist

Tue 20 Mar 2007 11:41am GMT / 7:41am EDT / 4:41am PDT

Electronic Arts is buying a 19 per cent stake in Korean online firm Neowiz.

Electronic Arts is buying a 19 per cent stake in Korean online firm Neowiz.

The two companies partnered last year to launch FIFA Online in the region, which now has more than 4.4 million registered users.

"We are extremely happy with the expertise Neowiz showed in launching FIFA Online in Korea last year," commented CEO of EA Larry Probst.

"We think they will be a great partner for bringing other EA franchises to the rapidly growing market for online games in Asia."

When the deal has completed, EA will be Neowiz's second largest shareholder after CEO and founder Sung Kyun Na.

The two companies intend to co-develop four more online titles for Asia, with Neowiz holding the rights to publish two of the games in Korea and Japan.

"Our partnership with EA has been a tremendous success in Korea," offered Sung Kyun Na.

"EA has a rich portfolio of game franchises and we look forward to partnering with them on bringing new titles and in new markets in Asia."

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