Smilegate makes strategic investment in Absurd Ventures

Crossfire and Lost Ark developer Smilegate said Wednesday that it had made a strategic investment in Absurd Ventures, a media and entertainment firm in the US, aiming to expand its presence in the global market.

The size of the investment was not revealed immediately.

Absurd Ventures was founded last year by Dan Houser, who spent over 20 years at Rockstar Games as the creative director for iconic game series like Grand Theft Auto and Red Dead Redemption. Houser is now focused on creating successful intellectual properties based on immersive storytelling, which can serve as the foundation for various cultural content.

The team at Absurd Ventures includes leaders and talent from Rockstar Games and industry veterans behind Triple-A game series such as Call of Duty and Pokemon GO. The company aims to break new ground by producing IPs across multiple sectors, including animated TV shows, movies, audio fiction podcasts and comic books.

Under the partnership, Smilegate will collaborate on new intellectual properties developed by Absurd Ventures. The two companies plan to combine their strengths to expand business opportunities in the gaming industry.

Dan Houser stated, “I decided to partner with Smilegate because my vision for gaming projects aligns with that of its founder, Kwon Hyuk-bin. His dedication to Triple-A game development is truly inspiring. Together, we aim to create captivating stories and unique user experiences.”

Sung Joon-ho, CEO of Smilegate Group, added, “We are thrilled to collaborate with some of the most renowned game developers. This partnership will help us release new games that resonate with a global audience, marking a key milestone in our journey to becoming a global leader in game IPs.”