Published on February 1st, 2013 | by cinderboy20
gPotato – North America and Europe portals sold to rival
Announced just hours ago, North America and Europe MMO portal, gPotato, has been sold. The deal includes its parent company, Gala-Net, and its offices in the 2 locations. Gala-Net’s operations in Korea and Japan seems to remain intact as they were not mentioned. The buyer is none other than Webzen, which is expanding once again in 2013 after reviving a few years back
The deal, worth around 17.5 million USD according to Reuters, will give Webzen 100% control of Gala-Net and gPotato’s operations in North America and Europe. Webzen has already made its presence known on gPotato, with Continent of the Ninth Seal being published on the portal.
Update 1: As pointed out by Guzmán Díaz in the comments, the North America and Europe subsidiaries for Gala-Net have shrunk their revenues by over 40% year on year and have been registering losses during the first 9 months of 2012. The 17.5 million USD is hence an acceptable one, although the amount may look low from the outside.
Update 2: According to Japanese sources, Gala-Net Brazil is included in the deal as well.