NCsoft makes majority investment in Singapore mobile publisher Indygo

Korean games giant NCsoft has made a majority investment in Singapore mobile publisher Indygo Group.

PocketGamer.biz reports that the deal is worth $103.8 million, which represents a 67% stake in the company. The deal sees NCsoft also acquire Vietnam-based casual games maker, Lihuhu, which is 100% owned by Indygo Group.

The Korean giant is also buying casual mobile games studio Springcomes, though no value has been put on that deal. NCsoft says that the developer is projecting KRW 28 billion ($18.9 million) for 2025, over double year-on-year.

The company is also in discussions to acquire some European studios, too.

This is all part of NCsoft’s pivot into the casual mobile genre. The company launched its Mobile Casual Center in August 2025, helmed by Tripledot and Outfit7 veteran Anel Ceman. The Korean firm has also hired user acquisition and data specialist Anthony Pascale, who has previously worked at the likes of Miniclip.

“With the acquisition of Lihuhu, we have established a growth foothold in the global mobile casual game market,” said NCsoft co-CEO Park Byung-moo.

“We expect Lihuhu to serve as a hub for casual game development in the Asian region.

“We are in talks with European studios for further mergers and acquisitions. Along with M&As, we are also seeking business collaborations with multiple global game studios to expand our casual game business.”

In a post on LinkedIn, Ceman added: “Vietnam is growing in mobile casual – strong talent, faster iteration cycles, and teams that know how to ship and scale.

“With this acquisition, it’s just the beginning of NC’s mobile casual expansion.

“We’re putting real weight behind building in the region and leaning into what’s next.

“2026 is going to be an interesting year for hybrid and casual.”

NCsoft has also bought a perpetual license for codebase software from a European firm that specialists in analytics and liveops. To ensure that this platform had the right technical potential, the Korean firm bought an unnamed Slovenian mobile casual games studio.