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KakaoPage, a mobile content platform operator in South Korea, has acquired Neobazar, an Indonesian game publishing and webtoon service company.
KakaoPage acquired 125,082 shares of Neobazar, or a 68.81 percent stake, for 13.8 billion won ($12.2 million), it said in regulatory disclosure on Tuesday.
KakaoPage launched by Korea's mobile messenger giant Kakao in 2013 as a digital content marketplace has expanded its digital content business. It owns 960 content works whose accumulative sales exceed 100 million won. Transactions surpassed 200 billion won this year, with overseas transactions valued at 20 billion won.
The acquisition aims to expand KakaoPage’s webtoon platform into Indonesia and Southeast Asian countries and secure more channels to sell its content, the company added.
Neobazar founded in 2015 is Indonesia's top provider of South Korean contents and generates 90 percent of its revenue from Korean webtoons and web novels. Accumulative app downloads reached more than 1.7 million cases.
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
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