Nexon’s New CEO Keen on Western Acquisitions and Investments

Nexon's newly appointed CEO Owen Mahoney tells Reuters that his company is keen on acquiring North American IP to gain a better footing in Western markets. Nexon runs the still-popular MOO Maple Story and plenty of other online free-to-play titles.

"We continue to believe that North America is a big, big opportunity for us," Mahoney told Reuters in an interview his appointment as Nexon's new CEO was announced. "We want more access to IP and want to be more successful in the West with the kinds of games that will resonate with Western tastes. But we're also prudent about what we do, so if we see a good opportunity we'll definitely go after it."

Nexon certainly has the cash on-hand to do whatever it wants; the company reported a cash balance of around ¥138.8 billion ($1.4 billion) in Q3, and noted that it needed to improve its revenues from Western markets such as North America and Europe. Asian markets (China, Japan and Korea) accounted for 93 percent of Nexon's sales in FY2013, with North America representing a meager 3 percent of revenue.

Last year, Nexon invested in SecretNewCo and Rumble Entertainment – and also acquired ThingSoft, the Korean developer of FIFA Online.

Source: GII

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