Rumor has it that Tencent (00700) is studying the acquisition of Korean game giant Nexon for $15 billion

The Zhitong Finance App learned that, according to reports, Tencent (00700) is studying the acquisition of South Korean game developer Nexon for $15 billion to enhance its game business. The report quoted sources as saying that Tencent has contacted the family of Kim Jong-joo, the late founder of Nexon, to explore the possibility of an acquisition. Meanwhile, Kim Jong-joo's family has already communicated with advisors to evaluate various options.

Nexon, founded in 1994, is one of the earliest companies to commercialize online games in Korea. Famous works include “Adventure Island,” “Bubble House,” and “Dungeons and Warriors.” In recent years, it has also launched single-console products with excellent market performance, such as “Diver Dave” and “Kazan.” In 2011, Nexon chose to be listed on the Tokyo Stock Exchange, and at one point the market capitalization exceeded 20 billion US dollars. As of June 2025, the company's market value was about US$15 billion, down nearly 30% from the 2021 high, but compared to the beginning of this year, it has already increased by more than 10%.

According to Nexon's interim report, Kim Jong-joo's family holds shares through NXC Corp., a family investment company. As of June 30, NXC and its subsidiary NXMH BV held 44.4% of Nexon's shares. Kim's wife and daughter together own about 67.6% of NXC's shares.

The report quoted sources as saying that NXC's stance on selling Nexon shares is still unclear, and Tencent's discussions will not necessarily lead to a deal, and the transaction structure has not yet been finalized.

Tencent and Nexon have a long history of cooperation. For example, the national service for the classic “Dungeon and Warrior” game is represented by Tencent.