BoomBang Games acquisition

•     Nexon Co., Ltd. acquired 32 percent of the shares of BoomBang Games, a flash game developer based in Spain

•     The investment was made to reinforce the lineup of community games and to strengthen the overseas business in South America 

Nexon Co., Ltd. (“Nexon Japan”, CEO Seung Woo Choi)  announced on the Oct. 5 that it invested in the Spanish developer ‘BoomBang Games S.L., acquiring 32 percent of its shares.

Established in 2004, BoomBang Games (CEO Luis Oses and Max Bevilacqua) is headquartered in Barcelona, Spain. The developer creates online games designed to appeal to Spanish speaking teenagers around the world.

‘BoomBang’ developed by BoomBang Games is a flash based community game designed for teens and users in the twenties. It offers various avatar decorations and methods of social networking. BoomBang’s service is currently being expanded from Spain to Spanish speaking audiences in North America and South America.

With this investment, BoomBang Games will be able to expand their user base and boost the company’s overall growth. Nexon Japan will be able to expand its virtual community games portfolio and to carry out ongoing investment in South America.

Going forward, Nexon Japan will expand the servicing areas of ‘BoomBang’ using Nexon’s overseas network which services more than 71 countries.

Boombang Games was advised by Agnitio Capital Limited, a technology focused advisory firm based in London, UK.

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[Reference]

1) Introduction: BoomBang Games.

                BoomBang Games is a game developer based in Barcelona, Spain, that was founded by Max Bevilacqua and Luis Oses in 2004. It s focus is to create a safe and unique virtual world that targets users in their teens and twenties who live in Spanish speaking regions.

                BoomBang, developed by the company, is a web based community game in which the user express themselves through avatars, enjoy multi-player games like art contests, communicate with other users, and decorate their ‘islands’ with pets and virtual items.

                Currently, BoomBang is expanding its user base by targeting the teens in Spain and South America.  It offers its game service through a service site name boombang.tv ( http://www.boombang.tv/chooser.php)  in English and Spanish.