Fast-growing online game firm Nexon has bought a controlling stake in Korean game development firm GameHi for $59.8 million.
Nexon is buying 29.3 percent of the company’s shares as well as management rights for control of GameHi from GunIl Kim, the largest shareholder in GameHi. GameHi is known for its online games Sudden Attack and Dekaron (seen in thumbnail pic), while Nexon has had big hits such as Maplestory and Dungeon Fighter Online.
Nexon pioneered the free-to-play business model where they let people play an online game for free and charge them real money to buy virtual goods in the game. That business model has fueled Nexon’s growth.
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1 Comments
July 4, 2010
Is it a cash out or money in the company? Is this mean that they were valued at about 200 million $ / 20 times profits?
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