The deal makes Netmarble the largest shareholder in SGN, which previously raised $28 million from Austin Ventures and the startup's founders. Chris DeWolfe, co-founder and CEO of SGN, declined to disclose the company's current valuation or what percentage stake Netmarble owns.

With the pact, SGN expects to grow its market share in Asia, while Netmarble conversely wants to tap SGN to grow its footprint in the U.S. and other territories.

SGN will use the new funds primarily for an 'aggressive' M&A strategy, eyeing acquisitions of other game studios, as well as to expand TV and online marketing and grow international distribution, said DeWolfe, former CEO and co-founder of one-time social high-flyer Myspace.

'The industry is consolidating,' he said. 'There are increasing barriers to entry to new players, and to be a leader requires lots of capital and lots of infrastructure.'

Part of SGN's strategy is to create games based on Hollywood properties and personalities, including movies, TV shows and celebrities. Last year, it released 'Book of Life: Sugar Smash' (pictured above) tied to the animated film release from 20th Century Fox. The 'Candy Crush'-style game 'continues to grow even though the film is out-of-window basically,' DeWolfe said. His rough target is for 70% of SGN's titles and intellectual property to be developed in-house, with 30% based on partner brands.

Privately held SGN expects to generate more than $280 million in revenue in 2015. DeWolfe said the company is cash-flow positive, with annual revenue up 300% over the last two years. At some point, SGN may consider launching an IPO but has no explicit plans today to go public, he added.

Seoul-based Netmarble publishes mobile games including Marvel Future Fight, Chrono Blade, Seven Knights and Monster Taming. The company has more than 2,500 employees worldwide. Netmarble has investments from and strategic partnerships with CJ E&M Corp., Korea's largest entertainment company; Tencent, one of Asia's biggest Internet companies; and Korean game developer NCsoft.

'SGN is a rapidly growing company with proven experience in developing and servicing top grossing casual games in the West,' Netmarble CEO Youngsig Kwon said in a statement. 'With SGN's many years of experience in global marketing, I am confident that SGN will make a perfect partner for Netmarble to enter the Western market.'

SGN's games have been downloaded more 500 million times, making it second in the casual-gaming market to King Digital Entertainment ('Candy Crush'). SGN is based in Culver City, Calif., with offices in San Francisco, San Diego, Palo Alto, Calif., and Buenos Aires, Brazil.

In addition to building its core mobile-games business, SGN is plowing R&D dollars into virtual reality and augmented reality technologies. 'We're spending a fair amount of time with folks in those arenas,' DeWolfe said.

About Netmarble Games Corporation

Netmarble Games Corp. strives to enrich people's lives by providing great games to global audiences. Based in Seoul, Korea, Netmarble Games Corp. has produced some of the most successful mobile games such as Marvel Future Fight, Seven Knights, Monster Taming, Raven, Everyone's Marble, and the Magu Magu Series. The company has more than 2,500 employees worldwide, numerous studios and consistently ranks as a top developer and publisher in Asia and globally. Netmarble Games Corp. has a strategic partnership with CJ E&M Corporation, Asia's largest entertainment company, Tencent Holdings, Asia's largest internet company, and NCsoft, a prominent MMO company, as company shareholders. More information can be found at www.netmarble.com.

ABOUT SGN

SGN is a leading cross-platform mobile games studio, delivering highly entertaining and engaging titles to millions of users around the world on Facebook, iOS, Android and Amazon. Founded by MySpace Founders Chris DeWolfe and Aber Whitcomb, and former Fox executive Josh Yguado, SGN's strong executive team with stellar programming and creative talent has established the company as a leader in the mobile gaming industry. SGN's acquisitions include Mindjolt, SGN, and Mob Science. SGN's patent-pending MasterKey technology deploys games seamlessly across multiple platforms, allowing players to interact with friends regardless of the device or site they prefer. SGN operates with a global presence with offices in Los Angeles, San Francisco, San Diego, Palo Alto and Buenos Aires. For more information about SGN, please visit www.sgn.com.