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Saudi Arabia Buys Minor Stake In Capcom & Nexon
Not one to be left out of the big software companies buying other big game-making companies spiel, the country of Saudi Arabia wants in on the action.
First with SNK (via Mohammed bin Salman) and ESL, and now with Capcom and Nexon. The country has invested US$1 billion and own 5% of Capcom and Nexon. Basically, about US$332 million went to Capcom based on its current market value. According to a report from Bloomberg, the Saudi Arabia Public Investment Fund spearheaded the minority acquisition, with the sole intent to diversify the country’s economic venture beyond gas and oil. Hence, software company acquisitions be it major or minor.
Let’s not forget that this may be a controversial piece news due to Saudi Arabia’s government and royalty having a lot of skeletons in their closet. Still, it looks like the country isn’t letting up with these electronics company purchases; I’m sure there’s more to follow up from here.
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[…] There have been many instances of that over the past few years, including investing in Nintendo, Capcom and Nexon, as well as Activision Blizzard, EA, Take-Two and even […]