Chinese Tech Giant Tencent Eyes Acquisition of South Korean Game Developer Nexon
In a recent development, Chinese tech giant Tencent is reportedly considering an acquisition of South Korean game developer Nexon.
According to a report by Bloomberg, Tencent has initiated discussions with the family of Nexon’s late founder, Kim Jung-ju, to explore the possibility of a potential deal. While talks are ongoing, no final terms have been agreed upon yet, and it remains uncertain whether a transaction will materialize.
Ownership Structure and Background
The family of Nexon’s late founder, Kim Jung-ju, holds a controlling stake in the company through investment firm NXC Corp and its affiliated unit NXMH BV. As of June 30, these entities collectively owned 44.4% of Nexon, with Kim’s wife and daughters controlling around 67.6% of NXC.
Nexon, founded in 1994 and headquartered in Japan, is renowned for its popular online games, notably the MapleStory franchise. The company went public in Tokyo in 2011 and has experienced fluctuations in its stock price over the years.
Focus on Web3 and Blockchain
Aside from its traditional gaming offerings, Nexon has ventured into the realm of Web3 and blockchain technology through its subsidiary, NEXPACE. Launched in mid-2024 with a significant investment from Nexon, NEXPACE aims to integrate blockchain into Nexon’s flagship franchises.
One of NEXPACE’s key projects is MapleStory Universe, which serves as a gateway to Web3 for the MapleStory IP. The release of MapleStory N in May 2025 marked a significant milestone for Nexon’s blockchain ambitions, incorporating NFT-based item mechanics and a native token economy powered by NXPC.
Previous Deal Attempts and Business Relationship
Although this isn’t Tencent’s first foray into a potential deal with Nexon, a previous attempt in 2019 was thwarted due to pricing disagreements. Tencent and Nexon have a preexisting business relationship, co-developing the successful title Dungeon & Fighter, which has significantly contributed to Tencent’s gaming revenue.
Expansion into Blockchain Gaming
Despite challenges in the blockchain gaming sector, Tencent is looking to bolster its presence in this space. Reports indicate a decline in daily active users and funding for blockchain gaming projects, but Tencent remains committed to expanding its footprint in blockchain gaming.
Moreover, Tencent has made strategic investments in the blockchain space, including leading a Series A round for Chainbase, an omnichain data network. The company has also collaborated with the Open Network Foundation and Tencent Cloud to support blockchain infrastructure in the Asia-Pacific region.
Metaverse and Web3 Initiatives
In addition to its focus on blockchain, Tencent has shown a keen interest in the metaverse and Web3 technologies. The company recently joined China’s official metaverse working group, signaling its commitment to exploring new frontiers in the digital landscape.
With Tencent’s ongoing efforts to diversify its portfolio and embrace emerging technologies, the potential acquisition of Nexon could pave the way for new opportunities in the gaming and blockchain sectors.