In a press release issued this morning, South Korean-Japanese game publisher Nexon announced a massive round of investments in four big entertainment companies: KONAMI, SEGA, BANDAI NAMCO, and Hasbro (the owner of Wizards of the Coast). The total amount invested is $874 million; these are to be considered 'long-term friendly investments with no intention of acquisition or activism'.
Owen Mahoney, President and CEO of Nexon, stated:
We believe companies with strong, well-managed global IP are often overlooked and undervalued in a market that is narrowly focused on introductions of new IP. These investments reflect our respect for management teams that create and grow global properties over a period of years and decades. We believe that each has potential to capitalize on the secular shift from linear formats to interactive entertainment.
These investments represent a good use of our cash in a low-interest environment and we are extremely pleased with the initial results. While leveraging partnerships was not a consideration in our investment decisions, we are pleased with the dialogue that has ensued with some companies.
This isn't the first investment made by Nexon in other game companies. In November 2018, the company made a 'major strategic investment' in Embark Studios, a Swedish development team founded by former EA and DICE executive Patrick Söderlund.
Over the years, Nexon has released several hit games such as Vindictus, MapleStory, and chiefly Dungeon Fighter Online, which is one of the most played and highest-grossing games of all time with over $15 billion in lifetime revenue. Unsurprisingly, there are three new games in development in the DFO franchise: a mobile title, a fighting game co-developed with renowned studio Arc System Works, and a 3D version of Dungeon Fighter Online codenamed Project BBQ.
This year, Nexon is expected to release the free-to-play racing game KartRider: Drift, coming to PC (Steam, Nexon Launcher) and Xbox One with crossplay functionality.
The post Nexon Announces Investments in KONAMI, SEGA, BANDAI NAMCO and Hasbro by Alessio Palumbo appeared first on Wccftech.
source https://wccftech.com/nexon-announces-investments-in-konami-sega-bandai-namco-and-hasbro/