NCSoft and Netmarble to end equity-based business alliance

South Korean game giants NCSoft Corp. and Netmarble Corp. announced they were ending equity-based alliance after six years, but would continue common game ventures.

Netmarble disclosed Wednesday in its regulatory filing their stock swap agreement signed in 2015 had expired on March 3.

Netmarble exchanged 9.8 percent for 8.9 stake in NCSoft. They have acted as friendly shareholders to one another since then, fending off bigger player Nexon.

Although the swap deal is terminated, they will continue their ongoing business cooperation, an official from NCSoft said.

Netmarble extended contracts to publish mobile versions in NCSoft’s best-selling "Lineage 2: Revolution" and long-running “Blade&Soul: Revolution”

On Thursday, Netmarble shares closed 1.27 percent higher at 120,000 won, while NCSoft shares finished 0.11 percent lower at 931,000 won in Seoul.

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