Rumors that Chinese Tech Giant Tencent Will Acquire the Developer Company of This Altcoin Have Caused Price Volatility
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China-based technology giant Tencent is considering the possibility of acquiring South Korean game developer Nexon in a bid to further consolidate its strong position in the gaming industry. The Shenzhen-based company has reached out to the family of Nexon’s late founder Kim Jung-ju about a possible acquisition, according to people familiar with the matter. Kim Jung-ju’s family holds shares in Nexon through the family’s investment firm NXC Corp. NXC and its subsidiary NXMH BV owned 44.4% of Nexon as of June 30. Kim’s wife and daughters also control about 67.6% of NXC. But it’s not yet clear how open NXC is to selling its Nexon stake. Tencent has yet to make a firm offer, the sources said, and it’s unclear whether the talks will lead to a final deal. Related News: Donald Trump Makes Important Statements About Cryptocurrencies Tencent also tried to buy Nexon in 2019, but that attempt failed. The company has recently been increasing its interest in South Korean assets. In late May, a Tencent subsidiary reportedly agreed to buy about 10% of South Korean music production company SM Entertainment Co. Founded in South Korea in 1994 and publicly traded in Japan in 2011, Nexon is known for its role-playing games. One of the company’s best-known productions, MapleStory, entered the Web3 world with an announcement made last March. Nexon announced that it would be moving the classic game to the Avalanche network and releasing a new version called “MapleStory Universe.” The game’s altcoin was listed simultaneously with the token production event held in mid-May on platforms such as NXPC, Binance, Bybit, Bitget, Upbit and Bithumb. Following these developments, NXPC gained more than 11% in value in a short time, rising to $1.36. *This is not investment advice. Continue Reading: Rumors that Chinese Tech Giant Tencent Will Acquire the Developer Company of This Altcoin Have Caused Price Volatility
Source: BitcoinSistemi
