Nexon Becomes Largest Share Holder of NCsoft

The industry seems to be doing a bit of a shuffle this week. Following the recent report that Vivendi is considering the sell-off of its 61% stake in Activision, Nexon also decided to stick its hand in NCsoft’s cookie jar. The free-to-play publisher recently invested more than $685 million to acquire 14.7% of NCsoft’s stock, making it the largest shareholder of the South Korea based publisher.

Nexon Co. (3659), a Tokyo-based maker of online games, bought a 804.5 billion won ($685 million) stake in NCSoft Corp. (036570) to become the South Korean company’s biggest shareholder.

The new long-term union could bring some interesting developments to the online and social gaming space.

Source: Businessweek