Bloomberg: Tencent in Talks for Potential Acquisition of South Korean Gaming Company Nexon, Has Approached Founder's Family

According to Bloomberg, citing sources familiar with the matter, Tencent Holdings Ltd. is exploring a potential acquisition of South Korean gaming company Nexon and has already reached out to the family of Nexon's late founder, Kim Jung-ju, to discuss the possibility. It is reported that the Kim family is consulting with advisors and evaluating various options.

Sources indicate that it remains unclear how willing NXC is to sell its stake in Nexon, and there is no guarantee that Tencent’s negotiations will result in a deal. The specific structure of any potential transaction has yet to be finalized. A Tencent representative did not respond to requests for comment, while both Nexon and NXC declined to comment.

Founded in 1994 and known for role-playing games such as MapleStory, Nexon completed what was then the largest tech IPO in Japan in 2011. Its Tokyo-listed shares have risen more than 10% this year, with a market capitalization of around $15 billion. Tencent previously attempted to acquire Nexon in 2019 without success; the two companies have jointly developed Dungeon & Fighter, one of Tencent’s key revenue-generating games.