China-based giant Tencent is considering the possibility of acquiring Korean game developer Nexon to further integrate its strong position in the gaming industry.
The deep Shenzhen-based company has contacted the family of late Nexon founder Kim Jung-Ju about the possibility of the acquisition, according to people familiar with the issue.
Kim Jung-Ju’s family holds shares in Nexon through the family’s investment company NXC Corp. NXC and its subsidiary NXMH BV. As of June 30th, it owns 44.4% of Nexon. Kim’s wife and daughter also manage about 67.6% of NXC. However, it is not yet clear how open NXC is to sell Nexon’s shares. Tencent has yet to make solid offers, sources said it is unclear whether the consultation will lead to a final deal.
Tencent also tried to buy a Nexon in 2019, but the attempt failed. The company has recently been gaining interest in Korean assets. In late May, Tencent’s subsidiary reportedly agreed to buy about 10% of Korean music production company SM Entertainment Co.
Founded in Korea in 1994 and released in Japan in 2011, Nexon is known for its role-playing games. Maplestory, one of the company’s most well-known productions, entered the world of Web3, which was announced last March. Nexon has announced that it will move its classic game to the Avalanche network and release a new version called “Maplestory Universe.” The game’s Altcoin was listed at the same time as a token production event held in mid-May on platforms such as NXPC, Binance, Bybit, Bitget, Uphumb and Bithumb.
Following these developments, NXPC won over 11% in a short time, rising to $1.36.
*This is not investment advice.
