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한상넷 로고한상넷

전체검색영역
Black Desert developer Pearl Abyss draws invest from Daishin PE
Collected
2017.03.28
Distributed
2017.03.29
Source
Go Direct
South Korea’s Daishin Private Equity (PE), a unit of Daishin Securities Co., completed 7 billion won ($6.3 million) worth equity investment in homegrown game developer Pearl Abyss Corp. whose RPG title Black Desert Online is hugely popular abroad.

Daishin PE made the purchase upon betting the company’s revenue would more than double this year from last year and soon exceed 1 trillion won in corporate value.

Korea Investment & Securities Co. in July last year also acquired around 1 percent stake in the local game developer at 5 billion won estimating its corporate worth at 550 billion won.

Industry watchers said Pearl Abyss raked in 26 billion won in net profit in the first half of last year, surpassing full-year 2015 net profit of 23.7 billion won that was up 120 percent from 2014.

Pearl Abyss is the developer of Black Desert Online, a multiplayer online role-playing game (MMORPG) that is played more by Americans and Europeans than Koreans. The game developer has big room to grow as it the online game is yet to reach other Asian markets. “The game could hit a jackpot in China and Southeast Asia,” one investment banker said.

Pearl Abyss has named Korea Investment & Securities to prepare for its initial public offering (IPO) on the nation’s secondary tech-heavy Kosdaq within this year. Daishin PE plans to keep its stake after the listing as the stock has further room to grow upon release of the console and mobile versions of the popular online game.

By Chun Gyung-woon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]