Japanese-based games firm Nexon has revealed that it has invested money in games companies Bandi Namco, Konami and Sega Sammy.
In a release on its website, the organisation disclosed these stakes to investors, in addition to an investment the firm had made in toy specialist Hasbro. During 2020, Nexon invested 58 per cent – $874 million – of the $1.5 billion that it was authorised to put behind worthy companies. There are a number of other investments that apparently do not meet the threshold for disclosure.
“We believe companies with strong, well-managed global IP are often overlooked and undervalued in a market that is narrowly focused on introductions of new IP,” CEO Owen Mahoney (pictured) said.
“These investments reflect our respect for management teams that create and grow global properties over a period of years and decades. We believe that each has potential to capitalize on the secular shift from linear formats to interactive entertainment.”
“These investments represent a good use of our cash in a low-interest environment and we are extremely pleased with the initial results. While leveraging partnerships was not a consideration in our investment decisions, we are pleased with the dialogue that has ensued with some companies.”
Last week, Nexon announced that Disney vet Kevin Mayer had joined its board.