Tencent is exploring a potential deal to buy Nexon, the South Korean developer behind hit games like Dungeon & Fighter and MapleStory.
The Chinese tech giant has approached the family of Nexon’s late founder, Kim Jung-ju, about a possible acquisition, according to insiders (Bloomberg). Nexon’s shares jumped 8.4% in Tokyo on Friday, lifting its market value to about $16.3 billion.
If you’re a fan of Nexon’s franchises, brace for bigger updates, crossovers, and maybe more microtransactions (because let’s be real, that’s Tencent’s style).
The company is on the hunt for “evergreen” games—titles that stay relevant and profitable for the long run.
Nexon fits that bill perfectly, especially after the success of Dungeon & Fighter Mobile, which Tencent already partners on. The move is part of Tencent’s wider comeback to big acquisitions after China’s regulatory crackdown in 2020 slowed its buying spree.
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But don’t expect this deal to sail through easily. Nexon’s ownership is complicated. After Kim’s death in 2022, his wife and daughters took over the family’s stake via NXC Corp. Part of that stake was handed to the Korean government to settle inheritance taxes. The government tried—and failed—to sell its piece.
Here’s the kicker: Tencent tried to buy Nexon back in 2019 but couldn’t agree on a price. Now, they’re back at the table. Maybe they’re hoping the recent dip in rival game developer shares (like Ubisoft and Sega Sammy) will help make the price more reasonable this time.
And in case you missed it, Tencent’s been busy. Earlier this year, they snapped up a 25% stake in a new Ubisoft unit for about $1.3 billion. Plus, they’re quietly investing in Korean entertainment too, like that recent 10% stake in SM Entertainment as China eases its unofficial K-pop ban.
If Tencent does pull off a Nexon deal, expect bigger games, bigger crossovers, and possibly bigger headaches if you’re worried about one company owning too much of your gaming life.
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