Bloomberg reported on June 12 that informed sources revealed that Tencent is studying a deal to acquire South Korean game developer Nexon, with an intended acquisition amount of 15 billion US dollars, approximately 107.7 billion yuan.
Nexon is a well-known game developer founded in 1994, with its headquarters in Tokyo, Japan. Its business covers South Korea and Japan. It is one of the earliest enterprises in the world to focus on online games. It owns many classic games such as “Dungeon & Fighter”, “Maplestory”, “Kartrider”, “Adventure Island”, and “Bubble Pop”, and has a wide influence in the Asian market.
It is learned that Tencent has contacted the family of Kim Jung-zhou, the late founder of Nexon, to discuss the possibility of a potential acquisition. The Kim Jung-Joo family holds shares through the family investment company NXC Corp. As of June 30, NXC and its affiliated company NXMH BV jointly held 44.4% of the shares of Nexon. It is still unclear to what extent NXC will accept the sale of Nexon’s shares, and the specific structure of the transaction has not been finally determined. Tencent, Nexon and NXC have not responded to this matter for the time being.
Tencent and Nexon have a long history of cooperation. The Chinese server of “Dungeon & Fighter” has been operated by Tencent for over a decade. In 2022, the two sides also jointly built the virtual community platform NEXONTOWN based on Tencent Cloud technology. In 2019, Tencent, Hillhouse Capital and KKR Investment Company all attempted to compete for Nexon, but the sale process was eventually put on hold as they failed to reach an agreement on the price.
Overall, Nexon’s share price has dropped significantly compared to previous years. Although it rose in 2025, it has fallen by nearly 30% from its peak in 2021. However, in the first quarter of 2025, the company’s financial report showed that its operating conditions were good, achieving revenue of 776 million US dollars, an increase of 5% year-on-year. The operating profit reached 283 million US dollars, increasing by 43% year-on-year.
If Tencent’s exploration of acquiring Nexon is successful, it will further enhance Tencent’s strength in the gaming business and may also have a significant impact on the global gaming industry landscape.
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