Smilegate, the South Korean developer of the world’s top first-person shooter game Crossfire, said on Tuesday it invested in the US-based media and entertainment studio Absurd Ventures.
Under the agreement, Smilegate will have the opportunity to partner with Absurd Ventures’ new intellectual property (IP). The company didn't reveal the size of the investment.
Absurd Ventures is led by Dan Houser, well-known as the producer of the Grand Theft Auto (GTA) series. He co-founded Rockstar Games and worked as a creative director.
Smilegate plans to have the Absurd Ventures’ existing and new IPs.
Both companies will leverage each other’s strengths into new business opportunities.
Smilegate will benefit from Houser and his team’s narrative, AAA game, and business expertise in the North American market.
Absurd Ventures will benefit from Smilegate’s expertise in the Asian market.
Write to Ji-Eun Jeong at jeong@hankyung.com
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