WeMade Aquires Controlling Share of JoyMax

The recent wave of consolidation in the MMORPG sector continues. On June 5, 2010 WeMade Entertainment signed an agreement to purchase a 25.8% stake in JoyMax. The shares come from the current CEO of JoyMax and three important board members. Both WeMade and JoyMax are Korea based publicly traded companies. The deal is scheduled to be signed on July 2, 2010 and will make WeMade the largest shareholder of JoyMax.

It is estimated that the deal is worth between $40 and $50 million US dollars, and will bring the two developers much closer. WeMade is best known for their Legend of Mir series which includes Mir 2 and The Legend of Mir 3. They also publish Digimon Battle and developed the MMO Avalon Heroes.

JoyMax is best known for the international hit Silkroad Online. They also publish Darkeden and Deco Online. Silkroad 2 is still in development and is one of the most widely anticipated free to play MMORPGs.