Hogan Lovells advises JustPlay on $202m sale to NCSOFT
Hogan Lovells has advised the shareholders of Berlin-based JustPlay on the sale of a 70 per cent stake in the company to South Korean video game group NCSOFT Corporation for a purchase price of $202 million.
The transaction was led by Munich partner Dr Nikolas Zirngibl (PICTURED), who headed the Hogan Lovells team supporting the shareholders throughout the deal.
Founded in Berlin in 2020, JustPlay operates a loyalty gaming application that rewards users for playing mobile games. Through the platform, players can earn real money—paid via services such as PayPal—or vouchers. The company’s business model is based on a so-called “play-to-earn” concept, which also allows users to donate part of their earnings to charitable organisations.
Active in the mobile gaming platform sector, JustPlay has recorded more than 25 million downloads of its app since launch, reflecting the rapid growth of reward-based gaming models in the global mobile market.
The acquiring company, NCSOFT Corporation, is a publicly listed South Korean developer and publisher of video games. Established in 1997, the company is widely recognised as one of the leading global providers of online games, particularly massively multiplayer online role-playing games (MMORPGs) supported by long-term live services and large international player communities.
Hogan Lovells advised the JustPlay shareholders on all legal aspects of the transaction and supported them throughout the sale process.
Hogan Lovells team for JustPlay
- Dr Nikolas Zirngibl (Partner), Thiemo Woertge (Counsel), Dr Dominik Lang (Senior Associate), Julia Dingeldey, Nadja Weber (Associates) – Corporate M&A, Munich
- Lucie Arntz (Senior Associate), Nico Baer (Associate) – Corporate M&A, Berlin
- Anthonia Ghalamkarizadeh (Partner), Dr Henrik Hanssen (Counsel), Marvin Jäschke, Julian Reidick (Associates) – Intellectual Property, Hamburg
- Dr Falk Loose (Counsel), Peter Volkmann (Senior Associate) – Tax, Munich
- Stefan Kirwitzke (Counsel) – Competition Law, Brussels
JustPlay (in-house): Frank Volpers, General Counsel.
