South Korean gaming giant NCSOFT is making a strong move into the casual mobile gaming market with the acquisition of a majority stake in Indygo Group, a Singapore-based mobile game publisher. The deal is valued at approximately 153.4 billion won ($103.8 million) and positions NCSOFT as the largest shareholder with a 67% ownership.
This acquisition aligns with NCSOFT’s broader plan to diversify beyond its traditional core titles and establish casual mobile games as a key growth engine.
Indygo Group and Lihuhu at the Center of the Deal
Indygo Group is the parent company of Lihuhu, a Vietnam-based game development studio best known for its casual and puzzle-focused mobile games. Lihuhu has seen strong international success, with over 80% of its revenue generated from North America and Europe.
The studio is projected to reach 120 billion won in sales in 2025, highlighting its growing influence in the global casual games market.
NCSOFT’s Vision for Casual Games
NCSOFT co-CEO Park Byung-moo emphasized that the acquisition marks an important strategic milestone for the company.
With the addition of Lihuhu, NCSOFT has secured a foothold in the global mobile casual game market. The studio is expected to play a central role in casual game development across Asia.
To support this strategy, NCSOFT has established a dedicated mobile casual games center, designed to connect game development, publishing, data analytics, and technological infrastructure into a unified ecosystem.
More Acquisitions on the Way
The Indygo deal is not a standalone move. NCSOFT has also announced plans to acquire Springcomes, a Korean casual mobile game studio projected to record 28 billion won in sales in 2025. Together, these acquisitions are intended to significantly expand the company’s casual gaming portfolio.
Looking ahead, NCSOFT confirmed that it is actively in discussions with European studios regarding potential mergers and acquisitions. In addition to M&A activity, the company is exploring strategic partnerships with global game developers to further accelerate its casual games business.
A Strategic Shift for NCSOFT
With competition intensifying across the global games industry, NCSOFT’s investment in Indygo Group signals a clear shift toward scalable, globally appealing casual titles. If successful, this strategy could help the company reach new audiences beyond its traditional player base and secure long-term growth in the mobile gaming sector.
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