Friday, July 18, 2008

T3 Entertainment Becomes the Largest Stockholder of HanbitSoft

As you may have heard from the various news, T3 Entertainment, the developing company very well known for Audition, online casual dance game, has acquired controlling stake in HanbitSoft on May 19, 2008 and have become the largest stockholder of the company.

The following is part the press release put out on the announcement day in Korea.

HanbitSoft announced today(May 19, 2008) that T3 Entertainment(hereinafter T3) has become the largest stockholder of the company.

HanbitSoft assigned 25% of Alex Kim’s share, who had been CEO and the largest stockholder of HanbitSoft, to T3.

HanbitSoft stated that this strategic coalition between the two companies will bring great synergy to the whole industry. Games that are developed by T3 will be serviced through HanbitOn, game portal site of 8million accounts, which will eventually brought up to be one of largest game portal sites in Korea.

T3 seeks to brighten up the domestic market by strengthening HanbitOn, and global market through strong international network HanbitSoft have built so far.

“Despite the ownership of the company, I will continue to devote my all passion and my know hows for HanbitSoft’s better future” said Alex Kim, CEO of HanbitSoft, and added “we decided to go for ‘changing the largest stockholder’ other than any other possible ways to go, because we agreed it is the best way to be. We believe our deal will bring positive energy to struggling industry.”

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