GungHo Sells Off Grandia Online
12.30.07 - 7:10 PM
GungHo Online Entertainment has sold off its PC-based MMORPG Grandia Online (also known as Grandia Zero) to Online Game Revolution (OGR) Fund Number 1 for 2.6 billion yen ($22.96 million USD). Subject of this agreement are only the copyright and the domestic and international distribution rights to Grandia Online. The rights to the Grandia (series) remain with GungHo subsidiary GameArts. No decision has been made as to whether GungHo Works will continue the game's development and operation.
GungHo and GameArts originally announced Grandia Online three years ago. Since then the development of the game has been transferred from GameArts to GungHo. Earlier this year, the game received a new title, Grandia Zero, and release date, sometime this year. However, instead of announcing a delay, GungHo yesterday revealed the game's sale to OGR Fund Number 1. The company cited the strengthening of both its consumer game business and financial structure as reasons for Grandia Online's sale. Following its sale, the game will now be called Grandia Online again. Its release date is listed as "to be announced."
Online Game Revolution Fund Number 1 was established by Movida Investment in December 2005. It provides capital and various services to companies interested in developing online games.