Fenwick & West LLP represented Electronic Arts Inc. (NASDAQ: ERTS) in its recently announced $105 million investment in Neowiz Co. Ltd. Neowiz, based in Seoul, South Korea, is a developer and publisher of online games. EA also committed four titles to be co-developed with Neowiz for online publishing in Asia. Upon completion of the investment, EA will own approximately 19% of common stock equivalents (excluding treasury shares) comprised of 15% of common stock and 4% of preferred stock of Neowiz. This investment will make EA the second largest shareholder of Neowiz, following CEO-founder Sung Kyun Na.
The Fenwick & West transaction team included corporate attorney Mark Stevens; technology transactions attorneys Stephen Gillespie and Matthew Rossiter; and tax attorneys Bart Bassett and Tim Fitzgibbon.
Fenwick & West is a premier Interactive Entertainment law firm, working closely with innovative companies—from start-ups to publicly traded companies—to resolve the complex legal and business issues at the nexus of entertainment and technology. The firm was recently ranked by Legal 500 as one of the top three U.S. law firms in the interactive entertainment sector for corporate and M&A and is ranked by International Tax Review as one of only seven "First Tier" law firms in the entire U.S.