Netmarble to Acquire Majority Stake in Kung Fu Factory

Netmarble U.S., the Los Angeles-based subsidiary of Netmarble Corp., a top global mobile game company, announced that it has acquired a majority stake in the Los Angeles-based game developer Kung Fu Factory. As a result of the majority stake acquisition, the developer will officially become a subsidiary of Netmarble U.S.

Best known for their work on popular mobile titles like “WWE: Champions,” Kung Fu Factory is working closely with Netmarble U.S. along with the NBA and NBPA, on the production of NBA Ball Stars, the first publishing project of Netmarble U.S. Kung Fu Factory will also be responsible for the ongoing development of this new title, along with other future titles specifically published by Netmarble U.S.

"Kung Fu Factory has been a tremendous partner in the production of NBA Ball Stars and has been incredibly in sync with our vision for our first publishing project," says Simon Sim, president, Netmarble U.S. "We're thrilled to have a developer with such an impressive portfolio of work become part of the Netmarble U.S. family and we look forward to building our relationship as we continue to expand our publishing capabilities in the West."

The investment into Kung Fu Factory is another step towards the company’s ongoing efforts as it continues to look for investment and acquisition opportunities that align with the business strategy of Netmarble U.S.

“Kung Fu Factory is delighted to officially be a part of the Netmarble U.S. family, as their pedigree and success of supporting mainstream mobile gaming experiences enjoyed by millions of players speak for themselves,” says Ricci Rukavina, founder and chief executive officer, Kung Fu Factory. “We are eager to blow out the launch of NBA Ball Stars in a big way and are looking forward to creating an amazing future with Netmarble U.S.”

Netmarble has previously announced that “NBA Ball Stars” will be released in the first quarter of this year through its fourth quarter and year-end financial results for 2020. More details on the majority stake acquisition and information on Kung Fu Factory’s upcoming projects with Netmarble U.S. will be revealed at a later date. More information is available on Netmarble U.S.’s official LinkedIn, Facebook and Twitter pages.