Nexon Announces Strategic Partnership with U.S. Developer Shiver Entertainment
Continues Momentum in North America with Equity Investment and Worldwide Multi-Product, Multi-Year Publishing Rights
TOKYO--(BUSINESS WIRE)-- NEXON Co., Ltd. ("Nexon") (3659.TO), a worldwide leader in free-to-play online games, today announced a strategic partnership with Shiver Entertainment, Inc., a new game development studio led by veteran game developer and former Zynga Chief Operating Officer (COO) John Schappert. Schappert previously served as COO of Electronic Arts and as Corporate Vice President of Microsoft's Interactive Entertainment Business after founding Tiburon Entertainment, the studio responsible for the best-selling and highly successful Madden NFL football franchise.
Under the terms of the agreement, Nexon will make a cash equity investment in Shiver Entertainment in exchange for a strategic equity stake in the company. The agreement also provides Nexon with exclusive worldwide multi-product, multi-year publishing rights to new titles being developed by the company. In addition, Nexon will nominate Owen Mahoney, Nexon's Chief Financial Officer and Chief Administrative Officer, to Shiver Entertainment's Board of Directors. Additional terms of the partnership were not disclosed.
"John is one of the world's most respected developers and has been responsible for building some of the industry's most fun and financially successful franchises," said Mahoney. "This announcement represents another significant milestone in our strategy to build our business in key Western markets by working with world-class developers and bringing our unmatched free-to-play online expertise to global markets. We look forward to leveraging the strengths of both companies to develop new, successful franchises loved by players around the world."
Shiver Entertainment was founded in December 2012 by John Schappert. With a career spanning more than 20 years in the games industry - during which he has served in roles from software engineer, programming Super NES games, to operating executive - Schappert is widely regarded as an industry superstar. In his most recent role as COO of Zynga, Schappert was responsible for overseeing product development and the company's daily operations, including Zynga's game studios, mobile division and administrative functions. Previously, he served as COO of Electronic Arts, where he was responsible for the operating plan, global retail and digital distribution, retail marketing, global technology and EA Interactive (EA's mobile, social and casual division). Earlier in his career, Schappert was Corporate Vice President of Microsoft's LIVE Software and Services division, managing the Xbox LIVE business and Microsoft Game Studios. Schappert has overseen the creation of numerous successful franchises, including FIFA Soccer, Need for Speed and Madden NFL.
"Nexon has an extraordinary track record of successfully partnering with a select few of the best game developers in the world, and we are proud to partner with them," said John Schappert, Founder and CEO of Shiver Entertainment. "Shiver Entertainment is focused on creating the world's best free-to-play games and by working together, we combine Nexon's expertise in online free-to-play games and global publishing capability with our AAA Western-oriented games. It's a perfect match and we are very excited about our bright future together."
About NEXON Co., Ltd. http://company.nexon.co.jp/
NEXON Co., Ltd. ("Nexon") (3659.TO) is a worldwide leader in free-to-play online games. Founded in Korea in 1994, Nexon developed one of the world's first graphics-based massively multiplayer online games. Nexon also pioneered the concept of microtransactions and the free-to-play business model, setting a new standard in which play is free, and users have the option to purchase in-game items to enhance their experience. Nexon currently services nearly 60 online games in more than 100 countries and since its founding, Nexon has generated more than 1.4 billion player registrations. The Company is headquartered in Tokyo, Japan and its shares are listed on the Tokyo Stock Exchange.
About Shiver Entertainment, Inc. http://joinshiver.com/
Shiver Entertainment, Inc. is a PC and mobile/tablet developer focused on creating the world's best free-to-play games. The Company is headquartered in sunny, shark friendly, Miami, Florida. Go to joinshiver.com for more.
Owen Mahoney, Chief Financial Officer
Greg Melchior, Corporate PR
John Christiansen/Jenny Gore
Sard Verbinnen & Co
John Schappert, Chief Executive Officer
KEYWORDS: United States Asia Pacific North America Florida Japan
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