Bloomberg: Tencent plans to acquire Nexon, the developer of DNF and MapleIsland

On June 12, Bloomberg reported, citing people familiar with the matter, that Tencent Holdings Ltd. is studying a potential deal to acquire South Korean game company Nexo, and has now contacted the family of Nexon’s late founder, Kim Jong-joo, to discuss the possibility of an acquisition. It is reported that the Kim family is discussing and evaluating various options with consultants. It’s unclear to what extent NXC is willing to sell its stake in Nexon, there is no guarantee that Tencent’s negotiators will facilitate the deal, and the exact structure of the deal has not yet been finalized, people familiar with the matter said. Tencent representatives did not respond to requests for comment, and both Nexon and NXC declined to comment. Nexon, known for its role-playing games such as MapleStory Island, was founded in 1994 and completed the largest tech IPO in Japan in 2011. Its Tokyo-listed stock has risen more than 10% this year and has a market capitalization of about $15 billion. Tencent’s unsuccessful attempt to acquire Nexon in 2019 led to the development of Tencent’s major revenue-generating game, Dungeons & Warriors.