Tag: nexon japan

Nexon Buys Gloops for $486 Million in Cash

Nexon acquires ‘Gloops’, a Japanese mobile game developer. Nexon’s Japanese office said that it bought 100% of its shares for 520 billion won ($466 million). This is the second buyout for Nexon acquiring a Japanese mobile game company. The first was inBlue in June.

Gloops marked 430 billion won ($386 million) in revenue for the last fiscal year that ended in June. It was operating at a loss before it goes into mobile. Its revenue in 2012 has been increased more than 5 times comparing to the last year.

According to a source, Nexon Japan has been looking for an influential mobile game partner for a long time. It seems they chose Gloops that has grown fast for the past 2 years over platform business holders such as Mobage and Gree. The strategy of Nexon is clear. They target $4,670 million Japanese mobile game market quickly and effectively.

Nexon Japan CEO Choi Seung-woo said “Nexon will participate full-scale in the quickly growing mobile game market by acquiring Gloops and become a leader that pulls the Japanese mobile game market along.”

Gloops is familiar with Mobage while inBlue is friendly with GREE, which allow Nexon could work with various platform business holders for its mobile game business.

Nexon Japan will be listed on 14th

Nexon will be listed on the Japanese Stock market on 14th of December. Nexon Japan’s initial offering stock price has been decided at 1,300Yen(US$16.72). The total of 425,388,900 stocks will be issuing on 14th is and 70 million stocks will be offered to new shareholders Nexon Japan’s market cap is 553 billion Yen.($US7,115 million), which is ahead of NCsoft’s market cap.

Nexon Korea is Nexon’s Japan’s 100% subsidiary company. NXC, the holding company, has 71.09% of Nexon Japan’s stokehold. The revenue recorded 934.3 billion Won (US$829 million) last year.