NCsoft Invests in Indygo

Investments

24 December 2025 14:17

Korean games publisher NCsoft is significantly expanding its presence in the casual mobile market following a major investment in Singapore based mobile publisher Indygo Group.

NCsoft has acquired a 67% stake in Indygo Group in a deal valued at $103.8 million. As part of the transaction, NCsoft also gains full ownership of Vietnam based casual games studio Lihuhu, which is wholly owned by Indygo.

In a separate move, NCsoft is acquiring casual mobile developer Springcomes. While the company has not disclosed the value of this acquisition, it confirmed that Springcomes is forecasting revenues of KRW 28 billion, approximately $18.9 million, in 2025. This would represent more than double its year on year performance.

NCsoft also confirmed that it is in active discussions to acquire additional studios in Europe, signaling that further expansion is planned beyond Asia.

These deals form part of NCsoft’s broader strategic pivot into casual mobile gaming. The company formally launched its Mobile Casual Center in August 2025, placing it under the leadership of Anel Ceman, a veteran of Tripledot Studios and Outfit7. NCsoft has also strengthened its commercial capabilities by hiring user acquisition and data specialist Anthony Pascale, whose previous experience includes Miniclip.

NCsoft co-CEO Park Byung-moo highlighted the importance of the Indygo and Lihuhu acquisition to the company’s global ambitions.

"With the acquisition of Lihuhu, we have established a growth foothold in the global mobile casual game market," said NCsoft co-CEO Park Byung-moo.

"We expect Lihuhu to serve as a hub for casual game development in the Asian region.

"We are in talks with European studios for further mergers and acquisitions. Along with M&As, we are also seeking business collaborations with multiple global game studios to expand our casual game business."

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