Korea's largest gaming company Nexon announced its plans to expand its reach within the markets in the West, starting with a deal with Rumble Entertainment. The company did not disclose any financial data regarding the deal, but sources stated that the investment was an all-cash minority stake.
The company's chief financial officer Owen Mahoney entered Rumble Entertainment's board of directors as part of the stake purchase. Rumble Entertainment produced popular games such as "Kings Road," which saw millions of downloads for mobile platforms. The Korean gaming giant also made other placements in the United States gaming industry. Recently, Nexon invested in a startup founded by former Zynga game designer Brian Reynolds.
According to analysts, Nexon's extremely successful venture into the Asian gaming market boosted its confidence to finally expand globally. Nexon's games were played by millions of users in China, Japan, South Korea and gamer haven Southeast Asia. The company's product called "Fantasy Runners for Kakao" recently achieved the one millionth download milestone in Google and Apple's app stores. In total, Nexon has over 1.4 billion players registered.
Nexon is listed in the Tokyo Stock Exchange.
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