Live Gamer Acquires N-Cash; Brings Korean Micro-Transaction Tech To U.S.
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In-game commerce firm Live Gamer has acquired N-Cash, a South Korean tech firm that powers micro-transactions and the virtual economies for more than 60 online gaming companies worldwide. Terms of the deal were not disclosed, though N-Cash President David Seo will remain in his current role. Joon Seog Park, former VP and GM of Live Gamer Asia, will helm N-Cash as CEO.
Live Gamer gets N-Cash’s proprietary payment platform, which supports multiple currencies and payment systems like PayPal; N-Cash was one of the pioneers in the business of letting gamers trade real money for virtual goods. The company was backed by Samsung Capital, JEI Co and AP Venture prior to the acquisition; Live Gamer’s investors include Charles River Ventures, among others, though it hasn’t raised funding since December 2007.
Posted In: E-Commerce, Payment Systems, Micropayments, Entertainment, Games, Money, M&A & Venture Capital, Mergers & Acquisitions, Countries, Asia, Korea, livegamer
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