×

Nexon Invests in Former EA Exec Patrick Söderlund’s Game Development Studio

Nexon is the sole strategic equity investor in Patrick Söderlund’s new venture, Embark Studios, the company announced Thursday.
In addition to the investment, Nexon will serve as the global publisher for Embark’s new titles.
Söderlund, a former executive of Electronic Arts, hasn’t revealed much about what types of games Embark will, well, be embarking on in the future. But, he is enthusiastic about the new company’s potential.
“I believe games are on the cusp of changing radically, thanks to new technologies,” said Söderlund. “Connected players, big data, speech recognition, cloud computing, advanced AI and more will open up new play, enabling developers to build a wider range of experiences, and for players to create and contribute. Embark is a group of veteran creators eager to move beyond current play experiences into the future.”
Söderlund was also nominated to serve on Nexon’s Board of Directors, which will be ratified at next year’s shareholder meeting.
Embark, a Stockholm-based studio, will develop new types of games and online worlds to explore using streaming, cloud capabilities, and artificial intelligence technologies, according to a press release. The studio will also create its own “technology platform” for the new offerings it has planned, the press release stated.
Owen Mahoney, President and CEO of Nexon, also commented on the investment.
“While the online games business is very large, it is still just getting started,” said Mahoney. “Today we sit at a major inflection point, with highly advanced AI technology, dynamic provisioning of computational power from the cloud, and new user interface options now offered by multiple vendors and at consumer-level price points. What remains scarce is the ability to make deeply engaging online virtual worlds that appeal to a broad global audience that can grow for many years. The formation of Embark represents one of the most exciting developments for the future of online games.”
Mahoney also expressed that Nexon looks forward to inviting Söderlund to its board.
“Online games are the center of the media industry, already bigger than movies,” Mahoney explained. “Our Board and management believe that it’s appropriate to have a game developer on our Board of Directors, especially one as capable and thoughtful as Patrick.”

More Gaming

  • Spotify logo is presented on a

    U.S. Consumers to Spend $26 Billion on Music, Video Subscriptions This Year

    U.S. consumers are expected to spend a combined $26 billion on music and video subscription services this year, according to new estimates from the Consumer Technology Association. That’s up from $20.4 billion in 2018, and nearly twice the amount spent on such services in 2017. Propelled by the continued success of Apple Music and Spotify, [...]

  • Gears 5 - Xbox Game Studios

    'Gears 5' Will Exclude Smoking Depictions After Concerns Raised by Youth Anti-Tobacco Org (EXCLUSIVE)

    “Gears 5,” the forthcoming installment in the “Gears of Wars” third-person shooter game franchise, will be a smoke-free establishment. The game, set for Sept. 10 release, comes from Xbox Game Studios and game developer The Coalition. The decision to remove all smoking references from “Gears 5” came after not-for-profit anti-smoking organization Truth Initiative approached Turner, [...]

  • Amazon Game Studios - Lord of

    Amazon Teams on 'Lord of the Rings'-Prequel Massively Multiplayer Game

    Amazon announced plans for a massively multiplayer online game set in J.R.R. Tokien’s Middle-earth — but in an era well before the events in “The Lord of the Rings.” Amazon Game Studios has teamed with Leyou Technologies, a Hong Kong-based games company. The companies will jointly develop the free-to-play game for PC and console platforms, [...]

  • Nintendo Switch Lite

    Nintendo Launches Switch Lite Handheld-Only Game System for $200

    Nintendo Switch is getting a cheaper, more colorful little sibling: Switch Lite, a device designed specifically to play Nintendo Switch games in handheld mode. The Switch Lite system is set to ship Sept. 20 at a suggested retail price of $199.99 — $100 less than the flagship Switch, which works in both handheld and TV-connected [...]

  • Walter Scopely Strictly Business Podcast

    Listen: How Scopely Turns TV Hits Into Video Game Gold

    “Star Trek,” “The Walking Dead” and “Wheel of Fortune” are more than just iconic TV brands; they’re the intellectual property powering mobile games on course to reach $100 million each. And they’re all produced by Scopely, a Los Angeles-based video game business led by co-CEO Walter Driver, who has made a specialty of adapting from [...]

  • Peter Ramsey

    'Spider-Verse' Co-Director Peter Ramsey to Speak at 2019 View Conference

    Peter Ramsey, who won an Oscar this year for co-directing the hit animated film “Spider-Man: Into the Spider-Verse,” has joined the long list of high-level speakers for the 2019 View Conference, which runs from Oct. 21-25 in Turin, Italy. “I’m delighted to announce that Peter Ramsey, who is the first African American director to win [...]

More From Our Brands

Access exclusive content