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Cactus PE sells online Go platform to Com2uS Controlling stake sold at $8.3 million

Translated by Ryu Ho-joung 공개 2020-07-02 08:00:00

이 기사는 2020년 07월 02일 08:00 더벨 유료페이지에 표출된 기사입니다.

Private equity firm Cactus Private Equity (Cactus PE) has agreed to sell its 86.01 percent stake in Tongyang Online to game publisher Com2uS Corp for about 10 billion won ($8.3 million), sources said on June 29.

Tongyang Online operates online Go platform Tygem. The gaming platform, launched in 2001, also provides live Go game broadcasts and online learning sessions. Cactus PE acquired 34,132 shares, or 86.01 percent of Tongyang Online’s common shares, from software developing company BK Tops for 3.1 billion won in December 2018 through its first fund.

Com2uS, founded in 1998, develops and distributes mobile games such as Summoners War and Com2us Professional Baseball. The purchase is the latest of a string of its acquisitions of mobile gaming studios, including Day7 and Bigball, as the Covid-19 lockdown boosts the gaming industry.

Com2uS was listed on KOSDAQ in 2007, which marked the first listing in the domestic mobile gaming sector. Its largest shareholder is Gamevil with a 29.38 percent stake.

Cactus PE has recently been active on mergers and acquisitions (M&A) transactions. The firm and Daishin Private Equity jointly acquired home appliance rental platform BS Rental in December. It also completed a buyout of Dongbu Steel in partnership with KG Group last summer.

(Reporting by Ar-rum Rho)
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