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Gravity Wants to Expand

Gravity (GRVY) said it would spend $30 million to $50 million over three years to expand its game publishing business.

The Seoul-based game distributor also said its principal game title, Ragnarok Online, is now available in France and Belgium.

"With our entrance into France and Belgium, we continue our global expansion of our flagship title Ragnarok Online," CEO David Yoon said. "We believe that the online game market in France possesses an attractive market potential for us, especially in light of our existing market presence in other European countries such as Germany, Austria, Switzerland, Italy, and Turkey. For the first time, we plan to provide technical support and localized marketing strategies in French and hope to achieve a good first impression and acceptance of Ragnarok Online in these markets."

On Friday, Gravity rose a penny to $6.80.

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