Gravity Company Acquired Dragonica Online

Gravity Company, a South Korean online game company signed a contract to get a 50.8 percent capital in Barunson Interactive for 11.69 billion that is equivalent to $10.2 million. The company is known for developing and publishing popular free-to-play MMORPG Ragnarok Online Barunson Interactive, from South Korea, has created two free-to-play MMORPGs in 2003. The 2 games are Dragonica Online and Dragonraja (beta version). Dragonica Online is available to play in 10 different countries, including Japan, China, and Europe. THQ Ice, a joint venture of THQ and I.C.E. Entertainment, made Dragonica Online available in North America last October.

However, Gravity took over that license after the company became bankrupt a few weeks ago. Gravity is now directing the access of Dragonica Online in North America through its WarpPortal site. The company expects to finish this acquisition of Barunson this 25th of October. After the company closed its deal, they will assign members for Barunson's board of directors.

CEO Toshiro Ohno, president and CEO of Gravity, said that they anticipate this transaction will make important value for Gravity and its shareholders as Barunson Interactive has capable online game developers. [via gamesindustry.com]