Korean Games Industry Consolidates; Nexon Acquires Stake in NCSoft
Nexon said that it has purchased a stake in NCsoft Corporation. Nexon today acquired 3,218,091 shares of NCsoft in a private transaction from Chairman, CEO, and Founder Taek Jin Kim at a price per share of KRW 250,000 in cash, for a total acquisition cost of KRW 804,522,750,000 or $685 million. As a result of this transaction, Nexon has become NCsoft’s largest shareholder with a share ownership of 14.7 percent. NCsoft is known for its MMORPG games while Nexon is strong in casual and free-to-play.