Chinese media giant Tencent Holdings Ltd. is reportedly studying a potential acquisition of Nexon Co., a South Korean gaming giant known for titles like MapleStory and Dungeon & Fighter. The deal, estimated at $15 billion, could significantly expand Tencent’s gaming portfolio, reinforcing its position as a dominant force in the industry.
Sources indicate that Tencent has approached the family of Nexon’s late founder, Kim Jung-ju, to discuss the possibility of acquiring their stake in the company. Kim’s family holds their shares through NXC Corp, which, along with its affiliated unit NXMH BV, owns 44.4% of Nexon. However, it remains unclear how receptive NXC is to a sale, and there is no certainty that Tencent’s deliberations will lead to a finalized transaction.
This move comes as Tencent seeks to strengthen its gaming division, following previous attempts to acquire Nexon in 2019. The company has also been expanding its investments in South Korean assets, including a recent stake purchase in SM Entertainment, signaling a broader strategy to diversify its holdings.
Nexon, founded in 1994, has been a major player in the RPG and online gaming space, with its shares climbing over 10% in Tokyo trading this year. However, the company’s stock remains nearly 30% below its 2021 peak, making it a potentially attractive acquisition target.
While Tencent has yet to confirm its intentions, industry analysts speculate that a successful acquisition could reshape the RPG and online gaming market, potentially leading to new collaborations, expanded game development, and deeper integration into Tencent’s gaming ecosystem.
