NCSOFT Bets $104M on Casual Gaming, Acquiring Publisher to Break Its MMORPG Mold

NCSOFT, the South Korean giant behind MMORPG titans like *Lineage* and *Guild Wars*, is making a significant pivot. The company announced Monday it has acquired a majority stake in Singapore-based mobile game publisher Indygo Group for $103.8 million (153.4 billion won) as it hunts for new growth drivers beyond its core franchise.

The deal makes NCSOFT the largest shareholder with a 67% stake in Indygo Group, according to the company. This isn't just any publisher; Indygo is the parent of Vietnam-based developer Lihuhu, a studio known for its successful casual and puzzle games. Lihuhu is a strategic asset, expected to generate 120 billion won in sales in 2025, with over 80% of its revenue coming from key Western markets in North America and Europe.

"With the acquisition of Lihuhu, we have established a growth foothold in the global mobile casual game market," said Park Byung-moo, co-CEO of NCSOFT. "We expect Lihuhu to serve as a hub for casual game development in the Asian region."

This move is part of a broader, aggressive push to diversify. NCSOFT also revealed plans to acquire Springcomes, a Korean mobile casual game studio expected to log 28 billion won in sales for 2025. To manage this expansion, the company has set up a new "mobile casual center" to integrate development, publishing, and technology under one roof.

The M&A spree is set to continue. "We are in talks with European studios for further mergers and acquisitions," Park added, signaling the company's global ambitions. "We are also seeking business collaborations with multiple global game studios to expand our casual game business."

PRISM Insight: NCSOFT's move isn't just about diversification; it's a strategic hedge against the high-stakes, blockbuster-driven MMORPG market. By acquiring a proven casual games player with a strong Western footprint, NCSOFT is buying immediate access to a more stable, high-volume revenue stream and signaling a fundamental shift in its growth strategy—from monolithic epics to a broader, more resilient portfolio.