Smilegate invests in Grand Theft Auto producer's studio

By Nam Hyun-woo

Smilegate, the developer of hit first-person shooter game CROSSFIRE, announced on Wednesday its strategic investment in Absurd Ventures, a U.S.-based media and entertainment studio led by Dan Houser, who is renowned for his role as the producer of the Grand Theft Auto series.

According to Smilegate, it recently signed a partnership agreement with Absurd Ventures in Seoul. Under the agreement, Smilegate will have the opportunity to partner with Absurd Ventures’ new intellectual property (IP).

Smilegate did not reveal the size of the investment, or whether the new IP mentioned in the partnership is completely new or related to Absurd Ventures’ existing IP.

Smilegate said in a press release that it will benefit from Houser and his team’s proven narrative, blockbuster game and business expertise in the Western market, while Absurd will benefit from Smilegate’s expertise in the Asian market. The two companies will pool each other’s strengths in areas such as online and live service, the gaming company said.

Houser is co-founder of Rockstar Games and led the company for over 20 years to drive the global success of the Grand Theft Auto and Red Dead Redemption game franchises. Building on his strength in creating narrative-driven titles, he founded Absurd Ventures last year as an IP studio, and is now working on a number of IP projects including "A Better Paradise" and "American Caper."

"A Better Paradise" is an audio sci-fi fiction series. It debuted at No. 1 on Apple’s Fiction charts. "American Caper" is a crime-fiction narrative and will be released as a comic book series next year. A third title from Absurd Ventures will also be revealed soon, the company said.

Smilegate gained its reputation with its game, CROSSFIRE. Though it was launched in 2007, it is still played by approximately 1 billion players in more than 80 countries. Its flagship massively multiplayer online role-playing game Lost Ark also has 1.32 million concurrent users.

“We are thrilled to collaborate with the developers behind globally renowned series that have millions of fans worldwide,” Smilegate CEO Sung Joon-ho said. “Together with Absurd Ventures, Smilegate aims to deliver games that players across the globe will love. This partnership marks a critical milestone in Smilegate’s journey toward becoming a global IP powerhouse.”

Houser noted that the partnership stems from mutual respect between him and Smilegate founder Kwon Hyuk-bin, as well as Smilegate’s passion for making blockbuster games. “We both want to build interesting worlds and new player experiences,” he said in the release.