Kakao Games Acquires M2On for 98 Billion Won

Kakao Games announced it will acquire M2On, a social casino and casual gaming company, as reported by JoongAng Business. The move aims to diversify Kakao Games' game portfolio and strengthen its overseas business and revenue base. On May 15, Kakao Games held a board meeting where it decided to purchase a 39.56% stake in M2On for approximately 98 billion won. Upon completion of the acquisition, Kakao Games will become M2On's largest shareholder and secure management control.