Nexon Acquires 14.7% Minority Interest in NCsoft
TOKYO, June 8, 2012 /PRNewswire/ -- NEXON Co., Ltd. ("Nexon") (3659.TO), a worldwide leader in free-to-play online games, today announced that it has made a strategic investment in NCsoft Corporation ("NCsoft") (036570.SE), a global online game developer and publisher. 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. As a result of this transaction, Nexon has become NCsoft's largest shareholder with a share ownership of 14.7 percent.
NCsoft, founded in 1997 and headquartered in Seoul, Korea, provides massively multiplayer online role-playing games (MMORPGs), such as Lineage, Lineage II, Aion, and Guild Wars, to its global user base. NCsoft has generated KRW 608,878 million of revenue in the fiscal year 2011.
This transaction brings together NCsoft's strong pipeline of compelling IP and Nexon's leading international publishing platform and expertise in the operation of free-to-play online games. This investment forms the basis of a long-term partnership, enabling both companies to leverage their strengths to facilitate attractive commercial opportunities. By creating this strategic relationship, both Nexon and NCsoft strengthen their commitment to deliver unrivaled gaming experiences to users around the world.
NEXON Co., Ltd. http://company.nexon.co.jp/
NEXON Co., Ltd. ("Nexon") (3659.TO) is a worldwide leader in free-to-play online games. Founded in Korea in 1994, Nexon developed one of the world's first graphics-based massively multiplayer online games. Nexon also pioneered the concept of microtransactions in the free-to-play business model, setting a new standard in which play is free, and users have the option to purchase in-game items to enhance their experience. Nexon currently services more than 50 online games in more than 100 countries and since its founding, Nexon has generated more than 1.3 billion player registrations. The Company is headquartered in Tokyo, Japan and its shares are listed on the Tokyo Stock Exchange.
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