Gravity Co., LTD. (ADR) (NASDAQ:GRVY) Issues Business Updates

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Gravity Co LTD.

Gravity Co., LTD. (ADR) (NASDAQ:GRVY) an online and mobile game developer from South Korea has issued a number of business updates on Ragnarok Online IP-based mobile games.

Among the updates issued, is its partnership with Shanghai The Dream Network Technology Co., Ltd. The two companies entered into a development and licensing agreement that offers Dream Square an exclusive right to develop Ragnarok Online IP-based web and mobile game as well as distributing them to in China for a period of five years. Dream Square in return agreed to pay some rates royalty fees on all generated revenues from its sales of the games in China. The company will also pay a non refundable fee.

Due to this agreement signed between the two companies, a text RPG mobile game dubbed Tiantiandaboli was launched on June 1,2016 in China. The game was published by X.D. Network Inc. X.D. Network Inc.had re-licensed the game rights from the original developer and patent holder Dream Square.

Additionally, Dream Square unveiled a card-based RPG mobile game dubbed RO Xianjing Chuanshuo : Fuxing, on October 18, 2016 in China. As a local publisher, Gravity introduced the same version of the game in Taiwan on December 1, 2016. Gravity also intends to publish the card-based RPG mobile game in Korea and Thailand in the first half of 2017.

An MMORPG mobile game dubbed Xianjing Chuanshuo RO : Shouhuyonghengdeai, was introduced X.D. Network Inc, a local publisher. Ythe company introduced the game for an open test beta test in China. The game is scheduled for official launching in the first half of 2017.

Gravity is a Korea based mobile and online game developer and publisher. The company’s principal product Ragnarok Online is a very popular and familiar online game used by people in several markets around the world. These markets include Thailand, Taiwan and Japan. The game is commercially offered in 81 countries and markets.

The company segments its products in three categories i.e. applications, mobile games and online games.some of the games developed by the company are Requiem Ragnarok Online I and II, R.O.S.E. Online and Dragonica (Dragon Saga).

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