Korean game company now has 14.7%
Nexon, the Korea video game developer, has acquired a 14.7% stake in NCSoft according to a number of reports, and the company is confirming this. NCSoft is a fellow Korean publisher. While the two companies have been focused on different market niches, the decision seems to be sitting well with many we have spoken with.
According to Nexon, the purchase was part of a long-term partnership between the two companies. The 14.7% interest in NCSoft is said to have cost approximately $688 million dollars to get the deal done.
Sources tell us that the shares, which number around 3.218 million, were purchased from NCSoft Chairman and founder, Taek Jin Kim. With this purchase, Nexon is now the largest shareholder in the company.