Nexon invests $687M in NCsoft, becomes largest shareholder

http://massively.joystiq.com/2012/06/08/...areholder/

MMO competitors and countrymen-in-arms Nexon and NCsoft are closer than ever today, as Nexon has acquired a minority interest in its fellow company. The move makes Nexon NCsoft's largest shareholder.

Nexon announced that it had invested in NCsoft by snapping up 3,218,091 shares in a private transaction. The deal cost Nexon 804,522,750,000 South Korean Won, or $687 million US. This puts Nexon's share ownership of NCsoft at 14.7%.

It will certainly be interesting to see how this investment affects the future of both Nexon and NCsoft. Nexon said that it "forms the basis of a long-term partnership" between the two companies.

Nexon has been making aggressive moves of late, particularly with acquiring Taiwanese publisher Gamania last month.

Edit: Oh oops. I just noticed this in the Nexon Announcements thread. I didn't check there before I posted. Sorry, my bad.